AL 2004-3	
OCC Advisory Letter

Subject:  U.S. Department of Treasury FinCEN Advisories 29W and 30W
 
Date:     April 23, 2004

TO:  Chief Executive Officers and Compliance Officers of National Banks 
     and Federal Branches, Department and Division Heads, and Examining 
     Personnel

This advisory letter revises the list of countries detailed in OCC 
Advisory Letter (AL) 2003-6, “U.S. Department of Treasury FinCEN Advisory 
27W,” dated July 29, 2003. 

In July 2000, the U.S. Department of the Treasury’s Financial Crimes 
Enforcement Network (FinCEN) issued a series of advisories identifying 
15 countries with serious deficiencies in their counter-money-laundering 
systems.   Since then, FinCEN has issued additional advisories eliminating 
or revising some of those original advisories . 

FinCEN is withdrawing advisories 29 and 30 and issuing advisories 29W and 
30W.  These advisories address Ukraine and the Arab Republic of Egypt.  
Enhanced scrutiny of transactions with these jurisdictions is no longer 
necessary due to the enactment of significant reforms to counter-money-
laundering systems and the concrete steps taken to bring reforms into 
effect. The FinCEN advisories are consistent with the February 27, 2004, 
decision by the Financial Action Task Force on Money Laundering to remove 
Ukraine and Egypt from its list of countries that are noncooperative in 
the fight against money laundering.

FinCEN advisories remain in effect for the following jurisdictions :

·  Burma,
·  The Cook Islands,
·  The Federal Republic of Nigeria,
·  Nauru, and
·  The Philippines.

The FinCEN advisories on the above jurisdictions emphasize the need for 
enhanced scrutiny of certain transactions and banking relationships in 
these jurisdictions to ensure that appropriate measures are taken to 
minimize risk for money laundering.  In addition, Nauru, Burma, and two 
Burmese financial institutions (Myanmar Mayflower Bank and Asia Wealth 
Bank) have been designated as primary money-laundering concerns, under 
section 5318A of the Bank Secrecy Act .  Please refer to OCC AL 2000-8 
for additional information on banking relationships in the subject 
jurisdictions.  Also, refer to the Bank Secrecy Act/Anti-Money Laundering 
booklet in the Comptroller’s Handbook and OCC AL 2000-3 for guidance on 
controlling risk of money laundering.  Copies of the booklet and the OCC 
advisory letters are available at 
http://www.occ.treas.gov/handbook/bsa.pdf and 
http://www.occ.treas.gov/issue.htm.

If you have any questions please contact your supervisory office or the 
Compliance Division at (202) 874-4428.



__________________
Ann  F. Jaedicke
Deputy Comptroller for Compliance

Attachments:
	Advisory 29W
	Advisory 30W

Can also be found electronically at:
http://www.fincen.gov/pub_main.html