FBME designated as a primary money laundering concern by FinCEN
On 17 July 2014, the United States Department of the Treasury's FinCEN named FBME Bank Ltd, formerly known as the Federal Bank of the Middle East, as a financial institution of primary money laundering concern pursuant to section 311 of the USA PATRIOT Act.
It is the policy of LuxCSD not to conduct business with any entity designated as a primary money laundering concern, nor to allow any such entity to use any of their services, whether directly or indirectly.
We are notifying you that, effective immediately, your accounts at LuxCSD may not be used for transactions involving FBME Bank Ltd, or any of its branches, offices or affiliates. If we become aware that your accounts have been used to process any such transactions, we will take appropriate steps to prevent such transactions including the termination of your account.
In addition to FBME Bank Ltd, this notice is applicable to any financial institution including its branches, offices and affiliates designated by FinCEN as a primary money laundering concern under the special measures of section 311 of the USA PATRIOT Act, including the following:
- Commercial Bank of Syria (includes Syrian Lebanese Commercial Bank);
- Infobank (includes Belmetalnergo) renamed Trustbank;
- Banco Delta Asia;
- Lebanese Canadian Bank SAL;
- Liberty Reserve S.A;
- JSC CredexBank;
- Halawi Exchange Co; and
- Kassem Rmeiti and Co For Exchange.