PUERTO RICO SUSPENDS OPERATIONS OF BANK AMID GLOBAL PROBE

On 30 June, the Daily Mail reported that authorities have announced that they have suspended the operations of Puerto Rico-based Euro Pacific International Bank, which officials previously said was under suspicion of facilitating money laundering and offshore tax evasion. It is said that the bank that was established in Puerto Rico in October 2017 came under scrutiny following a lack of internal controls, a lack of compliance and a level of insolvency.

https://www.dailymail.co.uk/wires/ap/article-10970785/Puerto-Rico-accuses-bank-money-laundering-tax-evasion.html

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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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