U.S. officials on Friday reversed their decision to blacklist a lender in the Chinese gaming hub of Macau 15 years ago for serving as "a willing pawn" of North Korea's government. In a 7-page notice to be published Monday, the Financial Crimes Enforcement Network, or FinCEN, disclosed plans to withdraw Banco Delta Asia's designation as a "primary money laundering concern" under Section 311 of the Patriot Act in September 2005, and a related ban from holding U.S. correspondent accounts. The bank, which ran eight branches and maintained correspondent accounts in the United States, Europe and Asia before the designation, also...
The Financial Crimes Enforcement Network repealed the final rule and issued a withdrawal of finding regarding the implementation of Section 311 of the USA PATRIOT Act with respect to Banco Delta Asia.
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