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.
More on Crime
The Latest
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
Weekly QuizNov 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for BuyerThe Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
SourcingNov 18, 2025
Another Diamond Company CEO Steps DownMark Wall, president and CEO of Canadian mining company Mountain Province Diamonds, will vacate his position next month.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena FlagshipThe showroom is located in a historic 1920s building in the Playhouse District.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
FinancialsNov 14, 2025
Richemont’s Q2 Jewelry Sales Up 12%Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
AuctionsNov 12, 2025
Historic Rolex Oyster Fetches $1.7M at Sotheby’sMercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.
