UPDATED ADVISORY WARNS AGAINST CONTINUED CORRUPT VENEZUELAN ATTEMPTS TO STEAL, HIDE, OR LAUNDER MONEY

A news release and Advisory from FinCEN to alert financial institutions of continued widespread public corruption in Venezuela and the methods Venezuelan senior political figures and their associates may use to move and hide proceeds of their corruption.   In addition to outlining the corrupt looting of Venezuela’s government-sponsored food distribution programme, the Advisory provides and updates a number of financial red flags to assist in identifying and reporting suspicious activity that may be indicative of corruption.

https://home.treasury.gov/news/press-releases/sm681

https://www.fincen.gov/news/news-releases/updated-fincen-advisory-warns-against-continued-corrupt-venezuelan-attempts

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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