ABSTRACT

FinCEN Advisory: Enhanced Scrutiny for Transactions Involving the Seychelles, May 1996, Issue 2W [Withdrawal]   [open pdf - 19KB]

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States that Financial Crimes Enforcement Network (FinCEN) Advisory 2, regarding the Republic of Seychelles, is hereby withdrawn. Since the issuance of Advisory 2, the Republic of Seychelles has repealed the 1995 Economic Development Act (EDA). The 1995 EDA would have facilitated money laundering activities and provided special protection against extradition and asset seizure for individuals suspected of engaging in criminal activity outside the Republic of Seychelles and of investing at least $10 million in approved Seychelles investments."

Publisher:
Date:
1996-05
Copyright:
Public Domain
Retrieved From:
Financial Crimes Enforcement Network: http://www.fincen.gov
Format:
pdf
Media Type:
application/pdf
Source:
FinCEN Advisory (May 1996), v.1 iss.2W
URL:
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