FBME Bank Shut Out of US Financial System for “illicit finance business from the darkest corners of the criminal underworld”!

On July 15, 2014 FBME Bank, a $2 billion asset size Tanzanian institution that conducts 90% of its business and holds 90% of its assets in Cyprus, has been named by FINCEN as a foreign financial institution of "primary money laundering concern" pursuant to Section 311 of the USA PATRIOT Act. FINCEN proposes to prohibit US financial institutions from opening or maintaining correspondent accounts for or on behalf of FBME, effectively shutting FBME out of the US financial system.

via Tax and Financial Planning articles http://bit.ly/WhfLVP