AL 2002-7
OCC ADVISORY LETTER	

Subject: U.S. Department of Treasury FinCEN Advisories 17A, 18A, and 26A
 
Date:    October 10, 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) 2002-5, “U.S. Department of Treasury FinCEN advisories 28 through 32,” 
dated June 6, 2002 (see also AL 2002-2, 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, 2002-2, and 2002-5; 
or FinCEN advisories 11A, 13A, 14A, 17A, 18A, 19A, 21A, 23A, and 26A).

The attached FinCEN advisories 17A, 18A, and 26A supersede and withdraw 
FinCEN advisories 17, 18, and 26, issued July 2000, regarding the jurisdictions 
of Israel, Lebanon, and St. Kitts and Nevis. Enhanced scrutiny of transactions 
with these jurisdictions is no longer necessary due to the enactment of 
significant reforms to their counter-money-laundering systems and the concrete
steps being taken to bring these reforms into effect. The FinCEN advisories are
consistent with the June 21 Financial Action Task Force on Money Laundering 
decision to remove Israel, Lebanon, and St. Kitts and Nevis from its list of
countries that are noncooperative in the fight against money laundering.

FinCEN advisories remain in effect for the following jurisdictions (See FinCEN 
advisories 2, 15, 16, 20-22, 24, 25, and 27-32.):

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

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.  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 ]