Tanzania’s central bank said on Monday it revoked the business licence of FBME Bank and placed it under liquidation after it was accused by the U.S. government of large-scale money laundering. The central bank took over the management of FBME Bank in July 2014 following a report from the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) describing the bank as a “primary money laundering concern.” The Tanzanian-registered bank mounted a legal challenge against the allegations, but a U.S. court ruled in favour of FinCEN in April, allowing it to shut the bank out of accessing the U.S. financial system.