Crime

Brink’s to Pay $42M After Admitting to Illegally Transporting Money

CrimeFeb 19, 2025

Brink’s to Pay $42M After Admitting to Illegally Transporting Money

The company has to pay the Justice Department and FinCEN for violating the Bank Secrecy Act, the U.S.’s main anti-money laundering law.

Brink’s Truck
Brink’s Global Services USA Inc., the U.S. arm of Brink’s Inc. and The Brink’s Company, has agreed to pay a $42 million settlement after it admitted to operating an unlicensed money transmission business.
Richmond, Va.—The U.S. arm of The Brink’s Company has agreed to pay a $42 million in settlement and penalties after it admitted to operating as an unlicensed money transmitting business and violating the Bank Secrecy Act, the United States’ primary anti-money laundering law.

In a Feb. 6 statement, the company announced that Brink’s Global Services USA had reached two separate resolutions regarding certain shipments of cash made between 2018 and 2020—a non-prosecution agreement with the U.S. Department of Justice and a consent order with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN).

A non-prosecution agreement allows a company or individual to avoid criminal prosecution if certain criteria are met.

According to a DOJ release from the U.S. Attorney’s Office for the Southern District of California, Brinks USA admitted that it violated Bank Secrecy Act rules requiring that a company transporting money to a third party register with FinCEN and maintain anti-money laundering compliance programs, neither of which Brink’s USA did.  

The non-prosecution agreement lists a number of instances in which Brink’s USA illegally transported money.

As one example, the DOJ said Brink’s USA transported more than $15 million from a money service business in San Diego to a separate money service business in Florida across 12 transactions. 

According to the DOJ, Brink’s USA “did not seek or obtain information” confirming the final beneficiary of each transaction, ultimately transmitting the $15 million to a third party not identified by Brink’s USA. 

On eight occasions, the company imported currency totaling more than $35 million into the U.S. from Mexico.

The DOJ said Brink’s USA and two other unnamed currency transporters imported and transported the money on behalf of a money service business located in Mexico for final delivery to several money service businesses in the U.S.

Such currency cross-border transshipments can avoid Bank Secrecy Act requirements if the transactions involve just one company/individual and no third parties, the DOJ explained, which was not the case with these transactions, making Brink’s USA an unlicensed money transmitter.

Between 2018 and 2020, Brink’s USA also shipped $800 million in bulk currency transactions as an unregistered money services business involving the U.S., Mexico, and Spain, according to FinCEN.

 Related stories will be right here … 

“For years, Brink’s moved large sums domestically and across the Southwest border without required AML controls, exposing the U.S. financial system to a heightened risk of money laundering, including from narcotics trafficking and other illicit activity,” FinCEN’s Director Andrea Gacki said in a statement.

One of these “high-risk entities” was a Mexican currency exchanger that later pleaded guilty to violating the Bank Secrecy Act, said FinCEN.

The case marks FinCEN’s first enforcement action against an armored car company, said the organization, while the DOJ said its settlement with Brink’s USA is believed to be the first with an armored car company based on admissions of criminal wrongdoing for failing to register as a money transmitting business. 

Under the terms of the agreements, Brink’s USA has agreed to pay a total of $42 million over three years.

In a parallel enforcement action, Brink’s USA and FinCEN also resolved civil allegations related to the armored car company’s failure to maintain an adequate anti-money laundering program and other related violations.

Brink’s President and CEO Mark Eubanks said, “Maintaining compliant operations for our global community of customers is a fundamental principle of our business and our company values.”

When Brink’s learned of the DOJ investigation in 2020, the company conducted its own internal review, said Eubanks, and has since enhanced its global ethics and compliance program.

The improvements include adding more full-time compliance professionals, refining its anti-money laundering controls and its “Know Your Customer” policies.

“As an industry leader, we are committed to continuous improvement and are always evolving our program to address changing compliance risks,” said Eubanks.

The DOJ originally ordered Brink’s USA to forfeit $50 million but forgave half of the penalty due to the company’s swift action to bolster its ethics and compliance program, bringing the penalty to around $25 million.

FinCEN imposed a civil monetary penalty of $37 million but credited Brink’s USA $20 million for its payment to the DOJ, ultimately imposing a $17 million penalty, bringing the total to $42 million.

The Latest

Mignon Faget Beyond Katrina Pendant and Beyond Katrina Pin
CollectionsAug 05, 2025
Mignon Faget Commemorates 20th Anniversary of Hurricane Katrina

The New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.

National Jeweler columnist Lilian Raji
ColumnistsAug 05, 2025
The PR Adviser: Affiliate Marketing Is the Cost of Coverage

Lilian Raji explains why joining an affiliate network is essential for brands seeking placements in U.S. consumer publications.

Jewelers of America Logo
Events & AwardsAug 05, 2025
JA Announces Seymour & Evelyn Holtzman Bench Scholarship Winners

The organization has awarded a total of $42,000 through its scholarship programs this year.

rio-article photo-diamond.jpg
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine Jewelry

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

2026 Gem Awards logo
Events & AwardsAug 04, 2025
Gem Awards, David Yurman Introduce $50K Grant for Emerging Designers

The winner of the inaugural David Yurman Gem Awards Grant will be announced live at the 2026 Gem Awards gala.

Weekly QuizJul 31, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Marlo Laz peridot and diamond Alexandra earrings
TrendsAug 04, 2025
Amanda’s Style File: August’s Bright Baubles

As summer winds down, celebrate the sunny disposition of the month’s birthstones: peridot and spinel.

Xavier Dibbrell
MajorsAug 04, 2025
Borsheims Welcomes New Assistant Facilities Manager

Xavier Dibbrell brings more than a decade of experience to the role.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Signet Jewelers logo
MajorsAug 01, 2025
Helzberg President Julie Yoakum Moves Over to Signet Jewelers

The addition of Yoakum, who will lead Kay and Peoples, was one of three executive appointments Signet announced Thursday.

Mike Alexander
MajorsAug 01, 2025
Jewelers Mutual Names Mike Alexander as President

The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.

 Gemfields rough rubies
SourcingAug 01, 2025
Gemfields’ Auction Revenue Drops 50% in H1

The nearly six-month pause of operations at its Kagem emerald mine earlier this year impacted the miner’s first-half results.

Hernsdorf Tears of Aphrodite Necklace
CollectionsAug 01, 2025
Piece of the Week: Hernsdorf’s ‘Tears of Aphrodite’ Necklace

The necklace uses spinel drops to immortalize the moment Aphrodite’s tears mixed with her lover Adonis’ blood after he was fatally wounded.

Stock image of a polished diamonds being held by tweezers
SourcingJul 31, 2025
De Beers Records $189M First-Half Loss

The diamond miner and marketer warned last week that it expected to be in the red after significantly cutting prices in Q2.

Lindsey Scoggins Studio convertible flower earrings
Events & AwardsJul 31, 2025
These Are the 2025 CASE Award Winners

Jewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.

Matthew Tratner, new president of Continental Buying Group
IndependentsJul 31, 2025
Matthew Tratner Takes Over as CBG President

Tratner succeeds Andie Weinman, who will begin stepping back from the buying group’s day-to-day operations.

Stock image of rough diamonds from the Kimberley mine
Policies & IssuesJul 30, 2025
Tariff on India Will Be 25%, Trump Says

The president made the announcement via Truth Social Wednesday, adding that India also will face a penalty for its dealings with Russia.

Pomellato Mini London blue topaz and diamond bracelet
FinancialsJul 30, 2025
Kering's Jewelry Brands Resilient As H1 Sales Slide 16%

The luxury titan’s star brand Gucci continued to struggle amid a "tough" environment.

Zadok Rolex Austin
WatchesJul 30, 2025
Peek Inside Zadok Jewelers’ New Rolex Showroom in Austin

Its opening marks the completion of the retailer’s new 11,000-square-foot store in the Texas capital.

Crowd of people in a shopping mall
SurveysJul 30, 2025
Consumer Confidence Ticks Up in July

Respondents shared concerns about tariffs and commentary on the “Big Beautiful Bill.”

Making a Killing in Diamonds by Rob Bates
SourcingJul 30, 2025
Rob Bates to Release Latest Book in His ‘Diamond District Mystery’ Series

“Making a Killing in Diamonds” tells the story of Mimi Rosen, the disappearance of a scientist, and the murder of lab-grown diamond CEO.

Tacori bezel-set diamond bands
EditorsJul 29, 2025
Out & About: Visiting Tacori’s Design Studio in LA

Senior Editor Lenore Fedow learned a lot when she took a behind-the-scenes factory tour with the jewelry brand earlier this year.

Mighty Fierce Audacious Necklace, Sandy Rubin Aziza Necklace, Koulianos Designs Illuminations Shield Pendant
Events & AwardsJul 29, 2025
Melee The Show Welcomes 15 New Designers

The first-time exhibitors, set to debut at the New York City show, share a devotion to craftsmanship, storytelling, and material integrity.

Auctim emerald auction
SourcingJul 29, 2025
Auctim to Offer 7.3M+ Carats of Rough Emeralds

The online auction house’s September sale will feature rough Brazilian emeralds of various qualities.

AGS Board President for 2025-2026 Alexis Padis
MajorsJul 29, 2025
Alexis Padis Re-Elected AGS Board President

She’ll lead an executive committee consisting of President-Elect Bryan Moeller, Mitchell Clark, Bill Farmer, and Larry Rickert.

Stock image of shipping containers
Policies & IssuesJul 28, 2025
U.S.-EU Come to Agreement on Tariffs

Announced Sunday, the deal will set the tax on goods imported into the United States from the European Union at 15 percent.

Nanis Ipanema Collection Campaign
CollectionsJul 28, 2025
Nanis Brings a New Palette to ‘Ipanema’

A new edition of the Italian brand’s “Ipanema” collection has debuted with gemstones that evoke Brazil’s breathtaking views.

Kevin O’ Leary and George Mayer of The 1916 Company
MajorsJul 28, 2025
The 1916 Company Partners with ‘Shark Tank’ Star’s Watch Insurance Platform

The retailer will refer its customers to WonderCare, founded by venture capitalist and watch collector Kevin O’Leary.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy