CrimeJan 27, 2025
New Jersey Jeweler Sentenced to 2 1/2 Years for Evading CustomsCrimeFeb 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 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 …
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.
“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
CollectionsJul 08, 2025
Mikimoto’s High Jewelry Collection Turns Pearls into PetalsThe “Les Pétales” collection imagines roses caught mid-bloom as a tribute to nature’s beauty.
ColumnistsJul 08, 2025
Peter Smith: Why Jewelers Struggle With Premium PricingLuxury brands charge thousands for their shoes and handbags. Jewelers pricing diamond products should take note, Peter Smith writes.
IndependentsJul 08, 2025
David Rotenberg of David Craig Jewelers Dies at 79Rotenberg was an active member of the American Gem Society and an accomplished appraiser who also worked with therapy dogs at a hospital.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
TechnologyJul 08, 2025
‘Diamond Divas’ Brings the Showroom to Social Media Reality SeriesIt follows New York-based brand Shahla Karimi Jewelry’s all-women team in “Say Yes to the Dress” meets “The Office”-style episodes.
Weekly QuizJul 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesJul 08, 2025
SMO Gold Launches New FoundationIn its inaugural year, the SMO Foundation will focus on supporting two organizations in West Africa and one in South America.
Policies & IssuesJul 07, 2025
Higher Tariffs Set to Take Effect Aug. 1, Officials SayThe announcement comes just as the 90-day freeze on the “reciprocal” tariffs nears its end, giving countries more time to negotiate.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
MajorsJul 07, 2025
Natural Diamond Council CEO David Kellie To Step DownKellie, who joined the organization in 2019, will remain in his role through the end of 2025.
Events & AwardsJul 07, 2025
Applications Open for Ella Klein Internship The program, a collaboration between Julius Klein Diamonds and the Women’s Jewelry Association, is in its second year.
Supplier BulletinJul 03, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
MajorsJul 03, 2025
Brilliant Earth Names Tennis Star Madison Keys as Its New AmbassadorThe 2025 Australian Open champion is the jewelry brand’s first athlete ambassador.
MajorsJul 03, 2025
Muse Sets Up Shop in Nordstrom’s New Jewelry HallThe West Village jewelry boutique’s new shop-in-shop is the cornerstone of Nordstrom’s revamped jewelry hall.
SourcingJul 03, 2025
SRK Announces Its Natural Diamonds Are Now Carbon-NegativeThis past year, the manufacturer said it recorded below-zero emissions per carat of natural diamond.
CollectionsJul 03, 2025
Piece of the Week: A Firework of Diamonds From YepremThe brand’s “Golden Strada” statement necklace features round, marquise, and pear diamonds that sparkle like Fourth of July fireworks.
MajorsJul 02, 2025
Boucheron Looks to LA for First West Coast FlagshipLocated on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.
MajorsJul 02, 2025
Marco Bicego Opens Milan FlagshipThe new location continues the brand’s celebration of its 25th anniversary.
WatchesJul 02, 2025
Chrono24 Revamps Brand, Launches New CampaignThe online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.
SourcingJul 02, 2025
Bernadette Mack Joins Gem Legacy as Executive DirectorShe will oversee strategic planning, fundraising, industry partnerships, and the launch of the Gem Legacy Campus in Tanzania.
CrimeJul 02, 2025
Pandora, Amazon Partner to Uncover Counterfeit Jewelry NetworkWorking with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.
MajorsJul 01, 2025
Cast Closes Business, Plans for RelaunchThe jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.
Events & AwardsJul 01, 2025
William Goldberg Diamonds, FIT Partner for Apprenticeship ProgramThe company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.
IndependentsJul 01, 2025
Elie Hannoush, Founder of Hannoush Jewelers, Dies at 73He is remembered for his successful entrepreneurship, generosity, and dedication to his family.
MajorsJul 01, 2025
Claire’s Is Looking for a Buyer, Report SaysThe jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.
TrendsJul 01, 2025
Amanda’s Style File: Red Hot RubiesWelcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.
CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.
ColumnistsJun 30, 2025
The Smart Lab: Why Q3 Is the Secret Weapon For Holiday Jewelry SalesThe best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.
