Regulatory Alerts2004-04-01 | Advisory Withdrawal - Issue 30WAdded
Transactions Involving the Arab Republic of Egypt (Advisory Withdrawal - Issue 30W)
FinCEN withdraws Advisory Issue 30, which previously required enhanced scrutiny of transactions involving the Arab Republic of Egypt. This withdrawal follows Egypt's enactment of significant counter-money laundering reforms and its removal from the Financial Action Task Force's list of non-cooperative countries. The action relieves banks and other financial institutions operating in the United States from the specific enhanced scrutiny obligations of the prior advisory, though it does not affect their ongoing obligations to report suspicious activity under existing regulations.
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