Menu Home

FinCEN Imposes Section 311 Sanctions on Two Lebanese Concerns

The enhanced reporting measures for Kassem Rmeiti & Co. for Exchange and Halawi Exchange Co. are effective immediately for the next 120 days. Additionally, FinCEN is issuing a notice of proposed rulemaking which, if adopted, would impose Special Measure 5 (the financial death penalty, prohibiting all access to the US financial system) on the 2 firms.

Links:

FinCEN News Release

Halawi Exhange Co. Special Measures

Finding of Halawi Exchange Co. as a Financial Institution of Primary Money Laundering Concern

Order requiring enhanced recordkeeping and reporting for transactions of Halawi Exchange Co.

Kassem Rmeiti & Co. Special Measures

Finding of Kassem Rmeiti & Co, as a Financial Institution of Primary Money Laundering Concern

Order requiring enhanced recordkeeping and reporting for transactions of Kassem Rmeiti & Co.

 

Categories: Anti-Money Laundering Due Diligence Lists FinCEN Updates Sanctions Lists Section 311 Sanctions

eric9to5

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: