Sunday, 27 September 2020

U.S. banks warned to watch for corrupt cash from Nicaragua

The U.S. has ratcheted up the pressure on the government of Daniel Ortega for its crackdown on political opponents, with the U.S. Treasury Department officials warning American banks to be wary of corrupt officials moving cash from embattled Nicaragua into the U.S. financial system.

Anti-government protesters march outside the Central American University (UCA) in Managua, Nicaragua

Specifically, Treasury’s Financial Crimes Enforcement Network (FinCEN) has advised financial institutions to watch for senior members of President Daniel Ortega’s government or people acting on their behalf illegally transferring assets to the U.S.

“Given the oppressive and corrupt conduct of the Ortega regime and resulting unrest in Nicaragua, people and companies associated with or linked to the Ortega regime may try to move corruption-related assets out of Nicaragua,” FinCEN Director Kenneth A. Blanco said in the press release Thursday.

“U.S. financial institutions are an important line of defense against corrupt and bloodstained money flowing through our system, and we are advising our partners in the financial sector to be on high alert,” Blanco said.

- paying the bills -

Under Secretary of the Treasury for Terrorism and Financial Intelligence Sigal Mandelker said in a statement, “For years, Nicaragua’s President Daniel Ortega and his government have held fraudulent elections, suppressed civil society and independent media, and stolen money from government funds. The violence that Ortega’s regime has perpetrated against the Nicaraguan people is despicable, and the international financial community must be on guard to prevent exploitation by corrupt regime insiders.”

Ortega has lost control over most of the country since April when peaceful demonstrations morphed into a revolt against his government and its allies, with almost 400 reported dead in clashes since then.

The Trump administration has already levied sanctions against three allies of Ortega, targeting them in July for alleged human-rights abuses and corruption. A fourth official was blacklisted by Treasury for allegedly amassing huge wealth while earning a meager government salary.

Article originally appeared on Today Nicaragua and is republished here with permission.

- paying the bills -
- paying the bills -
Q24N
Q24N
Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

Related Articles

Mexican pilots will spend 20 years locked up in Costa Rica for money laundering

Two Mexican pilots, identified as Luis Eduardo Gómez Mendoza and...

Maskless Ortega receives the Torch of Independence and raises Nicaragua flag

(TODAY NICARAGUA) Amid a strong police deployment, riot police and private...

MOST READ

Another narco drone attempts delivery in Alajuela prison

(QCOSTARICA) You have to hand it to the enterprising nature of Criminals who are ncreasingly turning to technology. On Saturday, just as an Amazon or...

Why is the ‘Aguila’ on its head? The marketing idea that confused Costa Ricans

(QCOSTARICA) You may or may not have noticed by the 'aguila', the iconic eagle logo of the Imperial beer brand, has been seen with...

Harllan Hoepelmann is the first legislator to be diagnosed positive

(QCOSTARICA) Legislator Harllan Hoepelman, of the Nueva República, is the first legislator to test positive for COVID-19, as published this Friday morning by the...

COVID-19 Costa Rica: 1,400 new cases for Sept 24; Country nearing 70,000

(QCOSTARICA) For Thursday, September 24, 2020., Priscilla Herrera, medical manager at the Ministry of Health, reported 1,400 new cases of COVID-19 in Costa Rica,...

COVID-19 has sent 5,000 people to hospital in Costa Rica

(QCOSTARICA) Almost 5,000 people in Costa Rica have occupied hospital beds due to COVID-19, reveals the Caja Costarricense de Seguro Social (CCSS). According to data...

COVID-19 in Costa Rica: 1,890 cases and 39 deaths in 48 hours

(QCOSTARICA) The Ministry of Health reported on Monday, a total of 1,187 new cases of COVID-19 for Sunday and 703 for Monday, for a...

Let's Keep This Going!

To be updated with all the latest news and information about Costa Rica and Latin America.

Article originally appeared on Today Nicaragua and is republished here with permission.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.