FinCEN
By Stelios Orphanides While the increasingly stricter anti-money laundering (AML) practices applied in the Cypriot financial system in recent years are already disgruntling businesses, the...
Klyuev, Pavlov not among bank’s customers, FBME owners say
By Stelios Orphanides The former owners of FBME Bank, the Tanzanian lender branded by US authorities as a financial institution of primary money laundering concern, said...
Appeal against FBME US ban runs out of appellants
By Stelios Orphanides A US court denied an emergency joint motion filed by the lawyer of the dissolved Cayman Islands-based FBME Ltd on Thursday to...
Bank of Tanzania instructs FBME Bank to withdraw from appeal against FinCEN
Tanzania’s FBME Bank Ltd, the lender US authorities banned from accessing the US financial system, has withdrawn from a joint appeal against the decision citing...
Cooperation may speed up FBME liquidation, depositor pay-outs
The decision of the Bank of Tanzania to revoke the banking licence of FBME Bank Ltd and to liquidate it, has created a new situation...
US court dismisses FBME motion against ban
A US court rejected a motion by Tanzanian FBME Bank against a 2015 measure taken by the Financial Crime Enforcement Network (FinCEN) barring the lender...
FBME depositors get €29m in compensation in five months
Five months after the Central Bank of Cyprus triggered the deposit guarantee scheme for depositors of FBME Bank, most customers seem reluctant to claim even...
Tribunal orders Cyprus to allow FBME officials access to premises
The Arbitral Tribunal at the International Chamber of Commerce (ICC) in Paris has ordered Cyprus to grant the shareholders and directors of embattled FBME Bank...
FBME staff reach deal on payment of wages and benefits
Workers at FBME bank and a special administrator overseeing the shuttering of the embattled lender have come to an agreement regarding the payment of salaries...
US authorities ‘sleepwalked’ into shuttering FBME
A George Blumenthal professor of political economy and international and public affairs at Columbia University in the US has argued that the US treasury’s FinCEN...