Kenneth Rijock

Kenneth Rijock

Thursday, September 21, 2017

FINCEN PUBLISHES RED FLAGS OF CORRUPT VENEZUELAN FINANCIAL TRANSACTIONS

 We have been covering Venezuelan governmental corruption, and the dangers that it poses to US banks and NBFIs, for many years. This week, the Financial Crimes Enforcement Network, or FinCEN, issued an alert, FIN-2017-A006, entitled Advisory to Financial Institutions on Widespread Political Corruption in Venezuela. The advisory details many of the Red Flags that have previously appeared on this blog, and it is humbly suggested that it be  required reading for all compliance officers whose bank clients have any international trade with Venezuela, in both its private, as well, as public sectors.

Readers may access the complete text of the advisory here.

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