Treasury cracks down on Cuba money company

Oct. 25, 2004 at 11:28 AM

WASHINGTON, Oct. 25 (UPI) -- The U.S. Treasury Department cracked down Monday on a Cuban company that allows U.S. residents to send remittances to Cuba.

Treasury said SERCUBA is an electronic money transfer business that has allowed U.S. residents to send money to those in Cuba via a third country or through the company's own

Web site. SERCUBA has a call center in Havana and 16 offices across the island nation, as well as two offices overseas, namely in Italy and Spain.

"We are financially isolating SERCUBA to make it more difficult for the Cuban regime to obtain the hard currency it uses to oppress its own people and to prop up its government," said Juan Carlos Zarate, Treasury's assistant secretary for terrorist financing and financial crime.

Treasury said U.S. nationals will not be able to do business with SERCUBA unless they get clearance from the U.S. government. It also said that all property of SERCUBA that is currently held by U.S. citizens has been blocked.

Like Us on Facebook for more stories from UPI.com  
Topics: Juan Carlos
Latest Headlines
Top Stories
'Serial stowaway' arrested again at Chicago's O'Hare, Midway airports
Maine man dead after shooting firework off head, police say
Greeks vote overwhelmingly to reject creditors' bailout
Third disturbance in four days erupts at Arizona prison
Two killed by police gunfire in 2 separate Central Texas shootings