AL 2002-5
Advisory Letter
Subject: U.S. Department of Treasury FinCEN Advisories 
         28 through 32

Date:    June 6, 2002

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) 2002-2, "U.S. 
Department of Treasury FinCEN advisories 11A and 21A," 
dated February 27, 2002 (see also AL 2001-7 and 
AL 2000-8). 

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 [See FinCEN advisories 13 - 27 (July, 2000).  The 
FinCEN advisories are available at www.treas.gov/fincen 
and additional guidance is provided in OCC AL 2000-8.).]  
Since then, FinCEN has issued additional advisories 
eliminating or revising some of those original advisories. 
[See OCC advisories 2001-7 and 2002-2 or FinCEN advisories 
11A, 13A, 14A,19A, 21A, and 23A.]  Recently, FinCEN issued 
the attached advisories 28 through 32 regarding Burma 
(Myanmar), Ukraine, the Arab Republic of Egypt, Grenada, 
and the Federal Republic of Nigeria. FinCEN advises banks 
and other financial institutions to give enhanced scrutiny 
to all financial transactions originating in or routed to 
or through the named countries, or involving entities 
organized or domiciled, or persons maintaining accounts, 
in the named countries.  The advisories provide background 
information on the need for enhanced scrutiny and the 
weaknesses or deficiencies noted in the countries' legal, 
supervisory, and regulatory systems.  These countries 
were identified in 2001 by the Financial Action Task 
Force on Money Laundering (the FATF) as noncooperative 
"in the fight against money laundering." 

Including the five countries named herein, FinCEN 
advisories remain in effect for the following 
jurisdictions [See FinCEN advisories 2, 15-18, 20-22, and 
24-32.]:

· The Arab Republic of Egypt,
· Burma,
· The Cook Islands,
· Dominica,
· The Federal Republic of Nigeria,
· Grenada,
· Israel,
· Lebanon,
· The Marshall Islands,
· Nauru,
· Niue,
· The Philippines,
· The Russian Federation,
· St. Kitts and Nevis,
· St. Vincent and The Grenadines, 
· The Seychelles, and
· Ukraine.

The FinCEN advisories 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.  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 www.occ.treas.gov/handbook/bsa.pdf and 
www.occ.treas.gov/Advlst00.htm.

If you have any questions, or need copies of the new 
FinCEN advisories, please contact your supervisory office 
or the Compliance Division at (202) 874-4428.



__________________

David G. Hammaker
Deputy Comptroller for Compliance



Attachments:
[ http://www.treas.gov/fincen/pub_main.html ]