ABSTRACT

FinCEN Advisory: Transactions Involving St. Vincent and the Grenadines, July 2003, Issue 27W [Withdrawal]   [open pdf - 33KB]

The FinCEN Advisory "...is a recurring series designed for the financial, regulatory and law enforcement communities. Subsequent advisories will describe trends and developments related to money laundering and financial crime." In this issue of FinCEN: "This Advisory is being issued to inform banks and other financial institutions operating in the United States that Financial Crimes Enforcement Network (FinCEN) Advisory Issue 27, regarding St. Vincent and the Grenadines, is hereby withdrawn. Since the issuance of Advisory 27, St. Vincent and the Grenadines has enacted significant reforms to its counter-money laundering system, addressing the points noted in Advisory 27, and has taken concrete steps to bring these reforms into effect. Because of the enactment of new laws and the beginning of effective implementation, enhanced scrutiny with respect to transactions involving St. Vincent and the Grenadines, as called for in Advisory 27, is no longer necessary. St. Vincent and the Grenadines now has in place a counter-money laundering system that generally meets international standards, as reflected in the June 20, 2003, decision of the Financial Action Task Force on Money Laundering to remove St. Vincent and the Grenadines from its list of countries that are non-cooperative in the fight against money laundering."

Publisher:
Date:
2003-07
Copyright:
Public Domain
Retrieved From:
Financial Crimes Enforcement Network: http://www.fincen.gov
Format:
pdf
Media Type:
application/pdf
Source:
FinCEN Advisory (July 2003), iss.27W
URL:
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