Imposition of Special Measure against Bank of Dandong as Financial Institution of Primary Money Laundering Concern (US Financial Crimes Enforcement Network Regulation) (FINCEN) (2018 Edition)

Imposition of Special Measure against Bank of Dandong as Financial Institution of Primary Money Laundering Concern (US Financial Crimes Enforcement Network Regulation) (FINCEN) (2018 Edition) The Law Library presents the complete text of the Imposition of Special Measure against Bank of Dandong as Financial Institution of Primary Money Laundering Concern (US Financial Crimes Enforcement Network Regulation) (FINCEN) (2018 Edition). Updated as of May 29, 2018 FinCEN is issuing this final rule to prohibit covered U.S. financial institutions from opening or maintaining a correspondent account for, or on behalf of, Bank of Dandong Co., Ltd. (Bank of Dandong) as a financial institution of primary money laundering concern pursuant to Section 311 of the USA PATRIOT Act (Section 311). The rule further requires covered U.S. financial institutions to take reasonable steps not to process transactions for the correspondent account of a foreign banking institution in the United States if such a transaction involves Bank of Dandong. It also requires covered institutions to apply special due diligence to their foreign correspondent accounts that is reasonably designed to guard against their use to process transactions involving Bank of Dandong. This book contains: - The complete text of the Imposition of Special Measure against Bank of Dandong as Financial Institution of Primary Money Laundering Concern (US Financial Crimes Enforcement Network Regulation) (FINCEN) (2018 Edition) - A table of contents with the page number of each section

• | Author: The Law The Law Library
• | Publisher: CreateSpace Independent Publishing Platform
• | Publication Date: Sep 14, 2018
• | Number of Pages: 28 pages
• | Language: English
• | Binding: Paperback
• | ISBN-10: 1727364244
• | ISBN-13: 9781727364248