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

News Releases

4/5/2004 USA PATRIOT Act Monitor News Release: FinCEN Withdraws Advisories on Egypt, Ukraine
Advisories on Egypt, Ukraine Withdrawn

The Financial Crimes Enforcement Network has withdrawn Advisory Issue 30 regarding Egypt, citing "significant reforms" to the country's counter-money laundering system, with "concrete steps" having been taken to bring this reforms into effect. Because of the enactment of new laws and the beginning of effective implementation, enhanced scrutiny with respect to transactions involving Egypt … is no longer necessary, according to Advisory 30W, posted on FinCEN's website on April 5, 2004. This action was expected, following the decision of the Financial Action Task Force in February to remove Egypt from the list of non-cooperative countries.The same action was taken regarding Ukraine in Advisory 29W, withdrawing Advisory 29. The FATF had also removed Ukraine from its list in February. Advisories are contained on the FinCEN website at http://www.fincen.gov/pub_main.html.

The USA PATRIOT Act Monitor and the news releases prepared by the Monitor staff are services of the Civic Research Institute, publisher of Money Laundering, Terrorism, and Financial Institutions, by Raymond Banoun and John Ensminger. Contact and subscription information may be obtained at http://www.civicresearchinstitute.com/moneylaundering or by calling the Civic Research Institute at 609-683-4450 (fax: 609-683-7291)

 

<< News Releases Main Page