FBME, one of Tanzania’s largest commercial banks, has been cut off from accessing the US financial system on suspicions that the bank has facilitated money laundering, terrorist financing, and organized crime. The action finalizes a 2014 ruling from the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) naming FBME “a foreign financial institution of primary…

Regarding recent press reports in connection with the FBME Bank Ltd Cyprus branch, which has been under resolution since July 2014, due to the adverse effects sustained by its operations as a result of the Financial Crimes Enforcement Network’s (FinCEN) action, of the US Department of Treasury, of naming the bank as a primary money…