Court rules against FBME in the States

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Court rules against FBME in the States
 © CyprusWeekly 2017
A US Federal District Court has voided the temporary hold on the final decision of the Financial Crimes Enforcement Network (FinCEN) of the US Treasury Department against Cyprus-based FBME bank.

With the FinCEN’s decision, it was made illegal for US banks to open or maintain accounts with FBME due to concerns over money laundering.

With this decision by the US Federal District Court, FinCEN’s original decision is now made permanent.

The Central Bank of Cyprus announced in July 2014 that it was taking over the management operations of the Cyprus branch operations of FBME following a report...

Court rules against FBME in the States

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