May 4 2017
A former executive of MoneyGram International Inc agreed to pay $250,000 and to be barred from a similar job for three years in settling a case that has been closely watched by the Wall Street compliance community as a test of a U.S. government push to punish individuals for institutional failures. The settlement with Thomas Haider, who was MoneyGram’s chief compliance officer from 2003 to 2008, was announced on Thursday by the Financial Crimes Enforcement Network (FinCEN) and the U.S. Attorney’s Office for the Southern District of New York. It was one of the largest fines ever imposed by FinCEN on an individual, a FinCEN spokesman said. FinCEN is a unit of the U.S. Treasury which combats money laundering.