Anti-Money Laundering Council (AMLC) Resolution No. 43 dated 17 May 2006

CIRCULAR LETTER NO. CL-2006-009

To:  All Banks and Non-Bank Financial Institutions Under BSP Supervision

Subject:  Anti-Money Laundering Council (AMLC) Resolution No. 43 dated 17 May 2006

Attached is the Anti-Money Laundering Council (AMLC) Resolution No. 43 dated 17 May 2006 regarding the Advisory Notice dated 10 April 2006 issued by the Financial Crimes Enforcement Network (FinCEN), United States Department of Treasury, warning against a potential money laundering threat involving Belarusian President Alexander Lukashenko, other government senior regime elements and senior executives in state-owned enterprises, acting individually or through government agencies and associated front companies, who are purportedly seeking to move misappropriated Belarusian state assets as well as proceeds from illicit arms sakes to or through the U.S. financial system.

FinCEN also designated Infobank, formerly known as National Bank of Belarus and conducting business and other activities as PSJC Trustbank, as a foreign financial institution of primary money laundering concern.

For your guidance,

MA. DOLORES B. YUVIENCO Sector-in-Charge