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Gyanendra Asre, a seasoned anti-money laundering (AML) specialist, has pleaded guilty to a shocking scheme in Brooklyn, New York.
- Key Facts

Gyanendra Asre, a seasoned anti-money laundering (AML) specialist, has pleaded guilty to a shocking scheme in Brooklyn, New York.

Asre, who was trained in AML compliance and procedures, deliberately ignored the Bank Secrecy Act’s protections, putting financial institutions at risk of illicit activity. This brazen move exposed the New York State Employees Federal Credit Union (NYSEFCU) to a staggering $1 billion in high-risk transactions.

According to court filings, Asre devised a scheme to bring in lucrative and high-risk international financial business lines, including international currency trading, to small, unsophisticated financial institutions. He represented to the financial institutions that he understood the risks associated with these business lines and would conduct appropriate AML oversight.

However, Asre willfully failed to implement and maintain the requisite AML programs or conduct oversight required to detect, identify, and report suspicious transactions. This reckless behavior caused the NYSEFCU to process more than $1 billion in high-risk transactions without ever filing a single Suspicious Activity Report as required by law.

United States Attorney Breon Peace called Asre’s actions ‘deliberate and egregious,’ stating that his office will ‘vigorously enforce these laws to ensure the integrity of the U.S. financial system.’ HSI New York Acting Special Agent in Charge Erin Keegan commended the dedication of law enforcement partners in upholding regulations that protect the banking system.

Asre faces up to 10 years in prison when sentenced. His guilty plea is a stark reminder of the importance of AML compliance and the consequences of ignoring these critical regulations.

The case is a stark reminder of the importance of AML compliance and the devastating consequences of ignoring these critical regulations.