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

Mikimoto Les Pétales Campaign Imagery and Les Pétales Necklace
CollectionsJul 08, 2025
Mikimoto’s High Jewelry Collection Turns Pearls into Petals

The “Les Pétales” collection imagines roses caught mid-bloom as a tribute to nature’s beauty.

National Jeweler columnist and jewelry sales expert Peter Smith
ColumnistsJul 08, 2025
Peter Smith: Why Jewelers Struggle With Premium Pricing

Luxury brands charge thousands for their shoes and handbags. Jewelers pricing diamond products should take note, Peter Smith writes.

David Rotenberg of David Craig Jewelers
IndependentsJul 08, 2025
David Rotenberg of David Craig Jewelers Dies at 79

Rotenberg was an active member of the American Gem Society and an accomplished appraiser who also worked with therapy dogs at a hospital.

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.

Diamond Divas Cast
TechnologyJul 08, 2025
‘Diamond Divas’ Brings the Showroom to Social Media Reality Series

It 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 Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
SMO Golden Gala
Policies & IssuesJul 08, 2025
SMO Gold Launches New Foundation

In its inaugural year, the SMO Foundation will focus on supporting two organizations in West Africa and one in South America.

Stock image of container ship in port
Policies & IssuesJul 07, 2025
Higher Tariffs Set to Take Effect Aug. 1, Officials Say

The announcement comes just as the 90-day freeze on the “reciprocal” tariffs nears its end, giving countries more time to negotiate.

Jewelers of America logo with meetup, State of the Majors, giveaway and massages
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

David Kellie
MajorsJul 07, 2025
Natural Diamond Council CEO David Kellie To Step Down

Kellie, who joined the organization in 2019, will remain in his role through the end of 2025.

Ella Klein Internship
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.

GIA iD100® Technology
Supplier BulletinJul 03, 2025
Protect Your Customers and Your Business

Sponsored by the Gemological Institute of America

Madison Keys in Brilliant Earth campaign
MajorsJul 03, 2025
Brilliant Earth Names Tennis Star Madison Keys as Its New Ambassador

The 2025 Australian Open champion is the jewelry brand’s first athlete ambassador.

Muse Nordstrom shop-in-shop
MajorsJul 03, 2025
Muse Sets Up Shop in Nordstrom’s New Jewelry Hall

The West Village jewelry boutique’s new shop-in-shop is the cornerstone of Nordstrom’s revamped jewelry hall.

Shree Ramkrishna Exports
SourcingJul 03, 2025
SRK Announces Its Natural Diamonds Are Now Carbon-Negative

This past year, the manufacturer said it recorded below-zero emissions per carat of natural diamond.

Yeprem Golden Strada Statement Necklace
CollectionsJul 03, 2025
Piece of the Week: A Firework of Diamonds From Yeprem

The brand’s “Golden Strada” statement necklace features round, marquise, and pear diamonds that sparkle like Fourth of July fireworks.

Exterior and entryway of Boucheron’s Los Angeles Flagship
MajorsJul 02, 2025
Boucheron Looks to LA for First West Coast Flagship

Located on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.

Exterior of Marco Bicego Milan Flagship
MajorsJul 02, 2025
Marco Bicego Opens Milan Flagship

The new location continues the brand’s celebration of its 25th anniversary.

Chrono24 Time Is Our Thing campaign image
WatchesJul 02, 2025
Chrono24 Revamps Brand, Launches New Campaign

The online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.

Bernadette Mack
SourcingJul 02, 2025
Bernadette Mack Joins Gem Legacy as Executive Director

She will oversee strategic planning, fundraising, industry partnerships, and the launch of the Gem Legacy Campus in Tanzania.

Counterfeit Pandora jewelry in bags and boxes
CrimeJul 02, 2025
Pandora, Amazon Partner to Uncover Counterfeit Jewelry Network

Working with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.

Cast Issa Rae
MajorsJul 01, 2025
Cast Closes Business, Plans for Relaunch

The jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.

Eve Goldberg, Matthew Denatale, Willie Lopez, Benjamin Goldberg
Events & AwardsJul 01, 2025
William Goldberg Diamonds, FIT Partner for Apprenticeship Program

The company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.

Elie Hannoush
IndependentsJul 01, 2025
Elie Hannoush, Founder of Hannoush Jewelers, Dies at 73

He is remembered for his successful entrepreneurship, generosity, and dedication to his family.

Claire’s store
MajorsJul 01, 2025
Claire’s Is Looking for a Buyer, Report Says

The jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.

Mindi Mond Spike Earrings
TrendsJul 01, 2025
Amanda’s Style File: Red Hot Rubies

Welcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.

The Story of Everything Campaign, Toadstool Mushroom and Cosmic Egg
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.

Smart Age Solutions CEO Emmanuel Raheb
ColumnistsJun 30, 2025
The Smart Lab: Why Q3 Is the Secret Weapon For Holiday Jewelry Sales

The best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.

×

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