N.Y. check-cashing company pleads guilty to Bank Secrecy Act violations

Belair Payroll Services Inc. never performed due diligence on more than $19 million in transactions

Belair Payroll Services Inc. apparently never learned my favorite old saying: Don’t let your greed write a check that your compliance program can’t cash.

The Flushing, N.Y.-based check-cashing company pleaded guilty to violations of the Bank Secrecy Act on Nov. 5, failing to follow the Act’s reporting and anti-money laundering requirements for more than $19 million in transactions.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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