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February 19, 2016: FinCEN withdraws 3 Section 311 Findings

Last Friday, the Financial Crimes Enforcement Network (FinCEN) withdrew findings and proposed rulemakings against Liberty Reserve S.A., JSC CredexBank and Banca Privada d’Andorra (BPA). The first two firms have gone out of business, while BPA has been taken over by Andorran authorities and is being restructured to remove the elements that raised money laundering concerns.

Links:

FinCEN Notice

Withdrawal of Findings: Liberty Reserve, JSC CredexBankBanca Privada d’Andorra

Categories: Anti-Money Laundering Enforcement Actions FinCEN Updates Section 311 Sanctions

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