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NBU Calls On U.S. Treasury’s FinCen to Launch Investigations into International Companies with russian Capital

The National Bank of Ukraine has appealed to Himamauli Das, Acting Director of the Financial Crimes Enforcement Network (FinCEN), to initiate preventive investigations into tax residents and businesses controlled by russian residents around the world in order to prevent the spread of international terrorism.

Among other things, the NBU’s appeal refers to companies with russian capital that use U.S. dollars and financial instruments denominated in U.S. dollars in their worldwide business activities and then pay taxes to the aggressor country. The NBU also urged FinCEN to warn banks and other financial institutions (based in the U.S., the UK, Switzerland, the EU countries, etc.) that are servicing russian capital about possible sanctions against them as potential accomplices in the financing of international terrorism.

“Russia’s war against Ukraine is accompanied by horrific terrorist acts that are killing Ukrainian civilians. Without a doubt, the Hague Tribunal will eventually reach a verdict in every war crime that is currently being perpetrated in our country. These atrocities will be recognized as crimes against humanity and acts of genocide against the Ukrainian people. But until that happens, it is our duty to convince you to take preemptive measures to prevent the death toll among civilians from rising further,” said NBU Deputy Governor Sergiy Nikolaychuk.

For reference

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury that collects and reviews information about financial transactions in order to combat money laundering, terrorism financing, and other financial crimes in the U.S. and abroad.


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