FinCEN Designates Banca Privada d'Andorra a Financial Institution of Primary Money Laundering Concern

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Wednesday, August 17, 2016
Author: 
Bruce Zagaris
Volume: 
31
Issue: 
3
Abstract: 
                On March 6, 2015, the Financial Crimes Enforcement Network (FinCEN), U.S. Treasury, issued a notice of finding that the Banca Privada d’Andorra (BPA) is a financial institution of primary money laundering concern and proposes to prohibit covered financial institutions from opening or maintaining correspondent accounts for or on behalf of BPA after the date of the final rule.  Persons have sixty days to comment.