US LIFTS SANCTIONS RESTRICTIONS ON MACAU-BASED DELTA ASIA BANK

On 10 August, an article from the Macau News Agency reported on a statement by the Chairman of Delta Asia Financial Group, Stanley Au that sanctions imposed by US authorities on Delta Asia Bank had been lifted. The US Treasury has decided to rescind the sanctions and restrictions imposed on local bank Delta Asia (Banco Delta Asia or BDA). In On 2005 the US Treasury designated BDA as a primary money laundering concern under the USA Patriot Act due to possible involvement with North Korean money laundering and other illegal financial activities, and 2 years later officially sanctioned BDA and blocked it from the country’s financial system.

https://www.macaubusiness.com/lifting-of-us-sanctions-on-delta-asia-bank-the-result-of-15-years-of-unrelenting-effort-chairman/

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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