FinCEN Takes Sec. 311 Measures against FBME Bank

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Monday, December 1, 2014
Author: 
Bruce Zagaris
Volume: 
30
Issue: 
12
Abstract: 
On July 17, 2014, the Financial Crimes Enforcement Network (FinCEN) announced that it named FBME Bank Ltd., formerly known as the Federal Bank of the Middle East, as a foreign financial institution of primary money laundering concern pursuant to Section 311 of the USA PATRIOT Act (Section 311).