Tagged: broker-dealer

US Brings First Criminal AML Case Against Broker-Dealer

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...