Regulatory Alerts2013-04-25
Added · Updated
Finding that Halawi Exchange Co. is a Financial Institution of Primary Money Laundering Concern
The Director of FinCEN found that Halawi Exchange Co. is a financial institution operating outside the United States that is of primary money laundering concern, effective as of April 22, 2013. This finding was made pursuant to Section 311 of the USA PATRIOT Act based on evidence that the entity facilitated large-scale trade-based money laundering involving used car exports to West Africa and provided services for international narcotics trafficking networks affiliated with Hizballah.
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