OCC 2003-46
OCC Bulletin

Subject:      Bank Secrecy Act/Anti-Money Laundering
Description:  Designation of Burma as Primary Money Laundering Concern; 
              Proposed Rules Imposing Special Measures Against the 
              Country of Burma and Myanmar Mayflower Bank and Asia 
              Wealth Bank

Date:         December 10, 2003
                      

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

On November 18, 2003, the Secretary of the Treasury designated
Burma (also known as Myanmar) as a jurisdiction of primary money
laundering concern under section 311 of the USA PATRIOT Act.  The
Department of the Treasury (Treasury), acting through the
Financial Crimes Enforcement Network (FinCEN), is issuing the
attached proposed regulations to impose special measures against
Burma.

The special measures to be imposed would generally prohibit U.S.
financial institutions from establishing, maintaining,
administering, or managing correspondent or payable-through
accounts in the United States for, or on behalf of, Burmese
financial institutions, unless those accounts are not prohibited
by Executive Order 13310, dated July 28, 2003.  The prohibition
would extend to correspondent or payable-through accounts
maintained for other foreign banks when such accounts are used by
the foreign bank to provide financial services to a Burmese
financial institution indirectly.

In addition, the Secretary designated two Burmese financial
institutions, Myanmar Mayflower Bank and Asia Wealth Bank, as
financial institutions of primary money laundering concern.
Under a separate proposed rule, Treasury, through FinCEN, is
proposing the imposition of the fifth special measure anticipated
by section 311 of the USA PATRIOT Act.  This special measure
would prohibit certain U.S. financial institutions from
establishing, maintaining, administering, or managing
correspondent or payable-through accounts for, or on behalf of,
Mayanmar Mayflower Bank or Asia Wealth Bank.

Treasury is soliciting comments from all interested parties
concerning the proposed rules.  Comments on both notices of
proposed rule making must be submitted on or before December 26,
2003.

Questions about the notices of proposed rulemaking may be
directed to your OCC supervisory office or the Compliance
Division at (202) 874-4428.




Ann F. Jaedicke
Deputy Comptroller for Compliance


Attachments:
*  68 FR 66299
*  68 FR 66305