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NEWS: FinCEN gives U.S. banks checklist to identify Hezbollah transactions

ADVICE: "Small business owners doing their best to comply with the law should not lose sleep over these new reporting requirements,” FinCEN director Andrea Gacki told a community outreach event in Tucson, Arizona.

BY PAUL O’DONOGHUE, Senior Correspondent

FinCEN, the AML unit of the U.S. Department of the Treasury, has given banks new guidance on how to recognize if a transaction is funding the Hezbollah organization.

Hezbollah is a Lebanese Shia Islamist political party and paramilitary group which is currently in conflict with Israel.

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