Why am I having problems with payments from U.S. banks to companies registered in the Seychelles or a few words about the “black” list of FATF and FinCen.
Choosing a jurisdiction for the registration of offshore companies, should take into account various factors. This ease of registration, the requirements for the presence of local directors, the need for filing tax returns, the language of the country. Last but not least should take into account the country’s image in terms of combating money laundering. Once acquired a bad reputation can haunt the country for many years, while having nothing to do with the current state of jurisdiction. As an example of unfair treatment can result in the Seychelles. It is not that often, but still there are cases when U.S. banks refuse to make transfers in favor of companies registered in Seychelles. What is the reason? To answer this question should be briefly said about an organization like US Department of Treasury Financial Crimes Enforcement Network (FinCen). FinCen – it was created in 1990 by the U.S. Treasury Department, which collects and analyzes information on financial transactions to combat money laundering, terrorist financing and other financial crimes. The activities of this department is not limited to U.S. territory, and often it issues recommendations that are considered banking institutions, the United States as a guide to action. In 1996, FinCen issued Advisory 2, which required banks and financial institutions with greater attention relate to transactions related to Seychelles.
reason for publishing such a directive was the adoption of Seychelles law on economic development, is granted citizenship of Seychelles to all those who invest $ 10 million in an approved facility investment. Adoption of this law was seen as undermining the efforts of the United States and other nations in the fight against money laundering. In 2003, his new directive Advisory 2W directive on a special regime for the Seychelles has been withdrawn, but the sediment, as they say, has remained. For example, you might notice that on 16 July this year FinCen (FIN-2010-A009) has published for the U.S. financial institutions to the list of countries that are not struggling with money laundering and terrorist financing. The reason for publishing this guidance was the publication of the FATF (FATF) on June 25, 2010, entitled “IMPROVING GLOBAL AML / CFT COMPLIANCE: ON-GOING PROCESS”. Unfortunately, among the countries such as – Sudan, Ethiopia, Nigeria, Pakistan and Bolivia, as indicated, and Ukraine. Therefore, it is hardly surprising that the list of countries whose citizens can open bank accounts, some banks do not put Ukraine. On the example of the Seychelles suggests how much more Ukraine can not have such a list after FinCen Ukraine from its list of exclude.
«Blacklist FinCen on July 16, 2010.
Angola.
Antigua and Barbuda.
Azerbaijan.
Burma (Myanmar)
Bolivia.
Greece.
Indonesia.
Yemen.
Kenya.
Morocco.
Nepal.
Nigeria.
Pakistan.
Paraguay.
Qatar.
Sudan.
Syria.
Thailand.
Trinidad and Tobago.
Turkey.
Turkmenistan.
Ukraine.
Sri Lanka.
Ecuador.
Ethiopia.
Y. Azarov, 25.10.2010
