FinCEN closes
decade-old penalty; Caymans bares bank records
Intro:
How old is too old when it comes
to resolving a Bank Secrecy Act penalty referred to the Treasury
Department's Financial Crimes Enforcement Network from one of the
federal banking supervisory agencies? Five years? Seven? Nine?
Excerpt:
On July 31, a Miami-based
newsletter, Offshore Alert,
confirmed the existence of the directive, which could signal the end
of an era for one of the world's leading laundering havens.
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