US Brings First Criminal AML Case Against Broker-Dealer
In a stark message, Justice Department prosecutors have brought the first criminal case for anti-money laundering violations against a broker-dealer. Central States Capital Markets, LLC (Central States) agreed to pay a $400,000 penalty and entered into a deferred prosecution agreement (DPA) with the US Attorney’s Office for the Southern District of New York for violating the bank Secrecy Act. As set forth in the court...