Regulatory Alerts2018-06-12
Added · Updated
Advisory on Human Rights Abuses Enabled by Corrupt Senior Foreign Political Figures and their Financial Facilitators
The U.S. Department of the Treasury and FinCEN issued this advisory to alert U.S. financial institutions to the risks posed by corrupt senior foreign political figures and their financial facilitators who enable human rights abuses. The document outlines specific typologies, such as the use of shell companies and real estate, and provides red flags to help institutions identify and mitigate these threats. It reinforces regulatory obligations for enhanced due diligence and mandates the inclusion of specific reference codes in Suspicious Activity Reports to aid law enforcement investigations.
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