Regulatory Alerts2000-07-01 | FinCEN Advisory - Issue 18Added
Transactions Involving Lebanon (FinCEN Advisory - Issue 18)
Banks and other financial institutions operating in the United States are advised to give enhanced scrutiny to all financial transactions originating in, routed to, or through Lebanon, or involving entities organized or domiciled, or persons maintaining accounts, in Lebanon. Institutions subject to suspicious transaction reporting rules under 31 C.F.R. 103.18 must carefully examine available facts to determine if any such transaction of $5,000 or more, U.S. dollar equivalent, requires reporting. The Treasury Department considers any report relating to a transaction described in this Advisory to constitute a report of a suspicious transaction relevant to a possible violation of law or regulation for purposes of the safe harbor protections against disclosure and liability.