news.cuna.org/articles/108786-inside-washington

Inside Washington

December 15, 2015

WASHINGTON (12/15/15)--The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) signed a memorandum of agreement with the China Anti-Money Laundering and Analysis Center last week to create a framework to facilitate expanded collaboration, communication and cooperation between both nations’ financial intelligence units. This arrangement provides a mechanism for sharing information on money laundering and the financing of terrorism in order to prevent illicit actors from abusing either country’s financial systems. According to FinCEN, the agreement establishes that the information being exchanged is to be used only in an authorized manner and treated in a confidential manner…