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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Advisories on Egypt, Ukraine Withdrawn
The Financial Crimes Enforcement Network has withdrawn Advisory Issue 30 regarding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)