ABSTRACT

FinCEN Advisory: Transactions Involving Niue, July 2000, Issue 22   [open pdf - 216KB]

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: "Banks and other financial institutions operating in the United States are advised to give enhanced scrutiny to all financial transactions originating in or routed to or through Niue, or involving entities organized or domiciled, or persons maintaining accounts, in Niue. The need for such enhanced scrutiny is discussed in the remainder of this Advisory. Niue is a small, self-governing island in the South Pacific Ocean that relies on New Zealand to manage its external affairs. The population of Niue is approximately 2,000. The Niuean government enacted a series of laws in 1994 aimed at establishing itself as an offshore financial center. Niue.s financial sector consists of one domestic bank, one offshore bank, and approximately 3,000 International Business Companies (.IBCs.) registered in Niue."

Publisher:
Date:
2000-07
Copyright:
Public Domain
Retrieved From:
Financial Crimes Enforcement Network: http://www.fincen.gov
Format:
pdf
Media Type:
application/pdf
Source:
FinCEN Advisory (July 2000), iss.22
URL:
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