ACAMS Public Documents

Treasury Identifies Belarusian JSC Credexbank as an Institution of “Primary Money Laundering Concern” 

05-22-2012 14:13

The U.S. Department of the Treasury today announced the identification of Belarus-based JSC CredexBank (Credex) as a financial institution of primary money laundering concern under Section 311 of the USA PATRIOT Act (Section 311). Treasury took this action because it has reason to believe that Credex has engaged in high volumes of transactions that are indicative of money laundering on behalf of shell corporations, and has a history of ownership by shell corporations whose own lack of transparency contributes to considerable uncertainty surrounding Credex’s true beneficial ownership.

http://www.treasury.gov/press-center/press-releases/Pages/tg1590.aspx

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JSCCredexBankNoticeofFinding-R.pdf   694K   1 version
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JSCCredexBankNPRM-R.pdf   1.19MB   1 version
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