Money Laundering, Terrorism and Financial Institutions - USA Patriot Act Monitor

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2/10/04 USA PATRIOT Act Monitor News Release: FinCEN Warns of Anti-Terrorist Certificate Scam

Some businesses and individuals have been receiving letters stating that a mandatory fee for an anti-terrorist certificate must be paid by the recipient to conduct business or financial transactions. The purported fee is often around $25,000 and the letter is made to appear to be from the Treasury Department or the Financial Crimes Enforcement Network, sometimes on stationery with a Treasury or FinCEN logo. FinCEN warns that consumers should not provide any information or send any funds to those sending these letters. The letter may say that FinCEN is freezing the recipient’s assets, which the agency notes it does not have authority to do. Anyone receiving such a letter is advised to contact FinCEN at webmaster@fincen.treas.gov.

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