FinCEN Proposes Special Measure Against FBME, by Shannon Allen
The United States Department of Treasury’sFinancial Crimes Enforcement Network (“FinCEN”) issued a notice of finding and proposed rule. The Director of FinCEN found that FBME Bank Ltd. (“FBME”), formerly known as Federal Bank of the Middle Ease, Ltd., is a financial institution operating outside of the United States that is of primary money laundering concern. […]