Treasury Proposes Restrictions on Bank Accused of Money Laundering
The Treasury Department Financial Crimes Enforcement Network is proposing to put restrictions on a bank in Belarus that it accuses of being involved in money laundering. The proposed restrictions for the bank, JSC CredexBank, involve provision 1 on recordkeeping and reporting of certain financial transactions; and provision 5, a prohibition or conditions on the opening or maintaining of correspondent or payable through accounts.
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Treasury said the imposition of the first and fifth special measures would complement the U.S. Government's worldwide efforts to expose and disrupt international money laundering.
Comments on the rulemaking are due by July 30 to http://www.regulations.gov, and include 1506-AB19 in the submission. Refer to Docket Number FINCEN-2012-0003. Further information is available from the FinCEN regulatory helpline, 800-949-2732, Option 6.