Regulatory Alerts2001-06-01 | Advisory Withdrawal - Issue 13AAdded
Transactions Involving The Bahamas (Advisory Withdrawal - Issue 13A)
FinCEN Advisory 13, concerning the Commonwealth of The Bahamas, is withdrawn for banks and other financial institutions operating in the United States. This withdrawal means that enhanced scrutiny for transactions involving The Bahamas, previously called for in Advisory 13, is no longer necessary. The Financial Crimes Enforcement Network notes that The Bahamas has enacted significant reforms to its counter-money laundering system, which now generally meets international standards. Institutions remain obligated to report suspicious activity and comply with all other applicable provisions of law.
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