FBME Money Laundering

One of the biggest search terms related to FBME bank these days is "Money Laundering". It is the result of the devastating FinCEN report that pointed a finger to FBME for bad judgment on customer acquisition. 

Customers of FBME bank who need to move their assets can take a closer look at the FBME solutions page on this website. They must realize that only clean and clear funds that are of non-criminal origin can be transferred from FBME bank accounts. The FinCEN report made bankers, financial institutions and the government wary of everything with the slightest smell. 

The question is how many customers of the Federal Bank of the Middle East should suffer from behavior of a selected few. It is absurd that honest customers cannot access their hard earned money. However, there are some solutions. These solutions are crafted to unburden FBME customers with amounts on deposit that don't exceed 350.000 Euro. 

FBME customers are allowed to transfer funds to other FBME accounts. But still there is only one way to withdraw funds from FBME bank accounts; by bank check. A bank check from FBME cannot be cashed! It can only be deposited in the benificiaries name with another bank in Cyprus. 

FBME customers who don't have a second bank account in Cyprus have a few options. They can leave their funds on the account, waiting (waiting and waiting) for things to change in their benefit. Another option is to open a new account in Cyprus. For those not living on the European island, this can be a nerve-racking adventure. It takes somewhere between 10 and 14 days to pass the due diligence process of a second bank in Cyprus.