US warns banks to watch for ousted Ukraine leader moving looted funds
Published on Feb 26, 2014 1:22 PM
WASHINGTON (REUTERS) - The US Treasury warned banks on Tuesday to be on the look-out for potentially suspicious transfers of financial assets by Ukraine's fugitive President Viktor Yanukovych or members of his inner circle.
Yanukovych is on the run after being toppled by bloody street protests in which police snipers killed demonstrators.
An advisory from the Treasury's Financial Crimes Enforcement Network (FinCEN) said that US financial institutions "should be aware of the possible impact that public reports of high-level corruption by senior members of the Yanukovych administration and other illicit activity by members of the administration may have on patterns of financial activity".
FinCEN said it was reminding banks they were required to apply "enhanced scrutiny" to accounts held by Yanukovych or his circle "and to monitor transactions that could potentially represent misappropriated or diverted state assets".
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