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Are Shell Banks On The Rise?

EFT Report

08-18-2004

Are Shell Banks upon The Rise?

Volume: 28
Number: 17
ISSN: 01957287
Publication Date: 08-18-2004
Page: 1
Type: Periodical
Language: English

The Financial Crimes Enforcement Network (FinCen), which is part of the U Department of the Treasury, published its SAR Activity Review earlier this week, giving bankers plenitude of new things to worry about, including attempts through foreign shell banks to breach the U financial combination of parts to form a whole and tax-refund-anticipation loan schemes that target banks. It also reported upon problems stemming from an elderly bugaboo -- money laundering at ATMs.





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