November 24, 2003 News Archive

FinCEN Details Success of Information Sharing with Authorities
A recent Financial Crimes Enforcement Network (FinCEN) press release (PDF) highlights the impact Section 314(a) of the USA PATRIOT Act has had on generating terrorist financing and money laundering leads for law enforcement.

Treasury Designates Burma and Two Burmese Banks to be of "Primary Money Laundering Concern"
In a press release, the Treasury announced that, due to continued serious flaws in anti-money laundering systems, Burma and two Burmese banks--Myanmar Mayflower Bank and Asia Wealth Bank--have been designated as of "primary money laundering concern" under Section 311 of the USA PATRIOT Act.