The U.S. Treasury Department ordered banks to sever their ties with a Tanzania-based financial institution that purportedly caters to clients seeking to circumvent compliance controls.
The U.S. Treasury Department Monday proposed designating Iran as a "primary money laundering concern" and requiring banks to end correspondent relationships with foreign institutions that transact for Iranians.
A Beirut-based lender acted as a "primary money laundering concern" by handling hundreds of millions of dollars for drug traffickers and a designated terrorist organization, U.S. officials said Thursday.