Regulatory Alerts2008-04-28 | FinCEN Advisory – FIN-2008-A005Added
Withdrawal of Advisories 21 and 21A Concerning Transactions Involving the Republic of Nauru
FinCEN withdraws Advisories 21 and 21A, which previously called for enhanced scrutiny of transactions involving the Republic of Nauru. This action follows Nauru's enactment of significant anti-money laundering reforms, including the abolition of 400 shell banks, and its removal from the Financial Action Task Force's list of non-cooperative jurisdictions. The withdrawal does not relieve banks and other financial institutions operating in the United States of their ongoing obligations to report suspicious activity or comply with all other applicable laws and regulations.
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