AML Litigation and Individual Liability: FinCEN's Landmark Haider Case Moves Forward

  • 2.1.2016

In a January ruling, a federal district court in Minnesota held that the Bank Secrecy Act (BSA) allows the Financial Crimes Enforcement Network (FinCEN) to bring suit against individuals for willfully violating the BSA’s anti-money laundering program requirement. The decision addresses important aspects of FinCEN’s enforcement authority in the context of a motion to dismiss brought by Moneygram’s former Chief Compliance Officer, Thomas Haider. This is something which , particularly those in the financial sector, will want to pay attention. See WilmerHale's client alert for more information.