FinCEN Wins 3rd Try At Freezing Tanzanian Bank Out Of US
By Martin O'Sullivan (April 14, 2017, 8:03 PM EDT) -- A D.C. federal judge on Friday granted the Financial Crimes Enforcement Network's bid to cement the exclusion of a Tanzanian bank from the U.S. financial system over money laundering allegations, saying that after two prior freezes of the rule, "the third time really is the charm."
In July 2015, FinCEN published a final determination that FBME Bank Ltd. was of "primary money laundering concern" and had possible ties to terrorist and transnational organized crime. U.S. District Judge Christopher R. Cooper, who previously paused the rule twice due to concerns over the information on which FinCEN based its determination, on Friday granted the...
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