NR 96-124
November 4, 1996

        OCC Publishes Bank Secrecy Act Compliance Handbook

WASHINGTON, D.C. -- The Office of the Comptroller of the Currency
announced today that it has updated its examination guidance
concerning the Bank Secrecy Act and money laundering.  Bank
Secrecy Act, an examination handbook, focuses attention on the
detection and prevention of money laundering.  In particular, the
handbook notes that the OCC encourages national banks to adopt
"know your customer" policies. 

The handbook deals with pass-through accounts (checking accounts
for a foreign bank), suspicious conduct and transactions, wire
transfer systems and how they can be used for illicit activities,
and the types of businesses, transactions and geographic
locations that may lend themselves more readily to potential
criminal activity.  It also includes interagency rules adopted
over the last two years to enforce the Bank Secrecy Act.

This handbook includes guidelines and procedures which will be
used by OCC's examiners and which will provide banks with more
suggestions for preventing their institutions from being used to
launder money. 

Copies of  the Bank Secrecy Act handbook have been mailed to all
national banks and OCC examiners.  Additional copies of the
handbook are available at a cost of $15 per booklet through
orders sent to the Comptroller of the Currency, P.O. Box 70004,
Chicago, IL 60673-0004.
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The OCC charters, regulates and supervises approximately 2,800 national banks
and 66 federal branches and agencies of foreign banks in the U.S., accounting
for more than half the nation's banking assets.  Its mission is to ensure a
safe, sound and competitive national banking system that supports the
citizens, communities and economy of the United States.