FinCENBSA / AMLSeptember 1, 2026

FinCEN Proposes Cutting Off UAE Branches of Banque Misr Over Money Laundering Risk

FinCEN is proposing to designate the UAE-based branches of Banque Misr as a primary money laundering concern under Section 311 of the USA PATRIOT Act. If finalized, U.S. financial institutions would be prohibited from opening or maintaining correspondent accounts for Banque Misr UAE, required to take reasonable steps to block transactions involving Banque Misr UAE flowing through foreign correspondent accounts, and required to apply enhanced due diligence to foreign correspondent accounts to prevent their use for such transactions. Any firm that maintains foreign correspondent banking relationships — including crypto exchanges and fintechs with banking partners — must ensure Banque Misr UAE exposure is identified and addressed.

What to do

Screen your foreign correspondent account relationships and transaction monitoring rules immediately for any exposure to Banque Misr UAE, and flag this NPRM for your comment period review and policy update pipeline.

Who this affects

Bank / Credit UnionCrypto ExchangeMoney Services BusinessPayments CompanyFintech / NeobankTrust Company

Does this affect your program?

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Source

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This radar entry is educational and does not constitute legal advice. Summaries are AI-assisted and grounded in the linked official source; always verify against the primary source and consult qualified legal counsel for jurisdiction-specific guidance.

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