ABSTRACT

FinCEN Advisory: Transactions Involving Dominica, April 2003, Issue 16W [Withdrawal]   [open pdf - 20KB]

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that Financial Crimes Enforcement Network (FinCEN) Advisory Issue 16, regarding the Commonwealth of Dominica, is hereby withdrawn. Since the issuance of Advisory 16, Dominica has enacted significant reforms to its counter-money laundering system, addressing the points noted in Advisory 16, 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 Dominica, as called for in Advisory 16, is no longer necessary. Dominica now has, in place, a counter-money laundering system that generally meets international standards, as reflected in the October 11, 2002 decision of the Financial Action Task Force on Money Laundering to remove Dominica from its list of countries that are non-cooperative in the fight against money laundering."

Publisher:
Date:
2003-04
Copyright:
Public Domain
Retrieved From:
Financial Crimes Enforcement Network: http://www.fincen.gov
Format:
pdf
Media Type:
application/pdf
Source:
FinCEN Advisory (April 2003), iss.16W
URL:
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