You are subscribed to FinCEN Updates. The information below is available at FinCEN.gov.
FinCEN Rescinds Advisory on the Abuse of the Citizenship-by-Investment Program Sponsored by the Federation of St. Kitts and Nevis
Today, FinCEN, in consultation with the U.S. Department of State, rescinded its Advisory on the Abuse of the Citizenship-by-Investment Program Sponsored by the Federation of St. Kitts and Nevis, issued May 20, 2014. FinCEN issued the Advisory in response to certain foreign individuals abusing the Federation of St. Kitts and Nevis' (SKN) Citizenship-by-Investment (CBI) program to obtain SKN passports for the purpose of engaging in illicit financial activity. The SKN passports associated with those foreign individuals have since expired. As such, FinCEN is rescinding the Advisory and is no longer requesting that financial institutions file suspicious activity reports with the term "SKN Passport" in the narrative and in the "Other" fields in Part II items 29 through 38. However, FinCEN reminds financial institutions to apply appropriate risk-based procedures for conducting ongoing customer due diligence. For more information regarding other Advisories, Alerts, and Notices issued by FinCEN, please visit our webpage: Alerts/Advisories/Notices/Bulletins/Fact Sheets | FinCEN.gov.
###
| This email was sent to stevenmagallanes520.nims@blogger.com using GovDelivery Communications Cloud on behalf of: FinCEN Updates · PO Box 39 · Vienna, VA 22183 · 703-905-3591 |  |
No comments:
Post a Comment