FBME Sues Own Private Investigators for Alerting Cyprus Authorities

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Tanzanian-registered FBME Bank are suing two private investigators and former UK police officers for reportedly breaking confidentiality after the lender employed them with the purpose to help diffuse allegations of money-laundering and terrorist financing.

The bank was operating in Cyprus at the time and had its licence revoked by the Cyprus central bank in December 2015 after US FinCen described the lender as a primary money laundering concern. During their employment, the two former investigators reported the company to US and Cypriot authorities on alleged grounds of criminal activity operating within the lender.