Region: Cyprus

US Treasury rejects FBME’s “fatally flawed” due process lawsuit

The US Treasury has dismissed Tanzania-based FBME’s allegations that it violated the bank’s due process rights, arguing the bank is a foreign institution with limited constitutional rights.

19 August 2015

FinCEN director explains FBME action

The director of the US Treasury’s Financial Crimes Enforcement Network (FinCEN), Jennifer Shasky Calvery, reiterated the bureau’s tough stance on attempts to dodge US regulatory oversight as she addressed a conference yesterday.

13 August 2014

Bank forced into administration after FinCEN AML accusations

Tanzania-based FBME bank has been placed under administration and faces a forced sale of its assets by Cyprus’ Central Bank following a US Treasury notice accusing the bank of facilitating a “substantial volume” of money laundering.

23 July 2014

Cyprus appoints new central bank governor

Cyprus has appointed a new central bank governor after the previous head resigned amid continuing tensions between the bank and the government.

12 March 2014

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