COURT RULES PATRIOT ACT SUBPOENAS CAN APPLY TO TRANSACTIONS OUTSIDE OF US

On 7th August, KYC 360 reported that a US Court of Appeals decision in respect of a North Korean sanctions case involving 3 Chinese banks says that foreign banks that have US correspondent accounts and are involved in schemes to obtain American currency can be legally obligated to turn over transactional data to federal investigators – even when the payments are processed abroad.

https://www.riskscreen.com/kyc360/news/patriot-act-subpoenas-can-apply-to-transactions-outside-of-us-court-rules/

https://www.cadc.uscourts.gov/internet/opinions.nsf/0/6E2FAD8DB7F6B3568525844E004D7A26/%24file/19-5068-1800815.pdf

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

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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