FinCEN Imposes Special Measure to Prevent Funds Transfers to PM2BTC

Summary

The Financial Crimes Enforcement Network (FinCEN) is issuing a notice to prohibit US financial institutions from transmitting funds to PM2BTC, a foreign financial institution deemed a primary money laundering concern in connection with Russian illicit finance, in accordance with the Combating Russian Money Laundering Act and the National Defense Authorization Act for Fiscal Year 2022.

Original source language: Federal Register — Department of the TreasuryOpen original release →

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