Sentence examples for laundering concern from inspiring English sources

FBME was described as "a financial institution of primary money laundering concern" in a notice of finding published in July 2014 by the US Treasury's Financial Crimes Enforcement Network (Fincen).

FinCEN also used its USA PATRIOT Act Section 311 authority to designate Bank of Dandong an institution of "primary money laundering concern" based on its alleged processing of North Korean transactions, thus cutting the institution off from the U.S. financial system.

The Commercial Bank of Syria was identified by the Treasury Department as a financial institution of primary money laundering concern in 2004 and, pursuant to Section 311 of the USA PATRIOT Act, has been subject since 2006 to a final rule prohibiting U.S. financial institutions from maintaining correspondent accounts for the Commercial Bank of Syria.

The Treasury Department named the Central Bank of Iran and the entire Iranian banking system as a "primary money laundering concern" — an unusual and symbolically important step, but one that is short of formal sanctions, which would probably be resisted by China and other Asian countries that import oil from Iran.

The Patriot Act Section 311 action against Iran and its central bank should be reinforced with a designation of "primary money laundering concern" against the class of transactions involving any Iranian bank, to address the increased risks of Iran's use of the financial system for illicit activity.

The US also named Iran a "primary money laundering concern".

Prosecutors decided against indicting HSBC over money laundering, concerned over the repercussions to the financial system.

The Treasury Department labeled the exchange houses, Kassem Rmeiti and Halawi Exchange, "primary money laundering concerns," which will most likely cut them off from the American financial system.

In deciding on sanctions, Mr. Bush went beyond the lawmakers' list to order American financial institutions to cut any ties with the Commercial Bank of Syria, citing money laundering concerns.

We could use Section 311 of the Patriot Act to name specific banks or classes of Russian business transactions as "primary money laundering concerns". Companies selling missile-defense technology to countries such as Syria and Iran could be sanctioned, too.

The complaint against the Beirut-based Lebanese Canadian Bank was filed under a rarely used provision of the Patriot Act that allows the Treasury Department to publicly identify financial institutions considered "primary money laundering concerns" and then move to restrict their business dealings in the United States.