In response to reader requests regarding our recent article, "FinCEN adds to FATF Concerns on Turkish-occupied Sector of Cyprus," which appeared in World-Check on 23 March, 2007, and where FinCEN advised that offshore financial institutions located in the Turkish-occupied sector of Cyprus have virtually no regulation, we list the offshore banks below. Bear in mind that FinCEN has warned that these banks, having no SWIFT access, must act through banks located in Turkey, which means that you may not be advised of the role of these offshore banks. Requiring the address of the remitter on all wire transfers received from Turkish banks, checking to see if the sender is located in the Turkish-occupied sector of Cyprus, and demanding the identity of the originating bank, if the answer is positive, may lead your compliance staff to one of the banks listed below. I have performed no enquiry on any of the named banks, and therefore cannot render an opinion as to AML/CFT compliance of any entity shown.

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