OCC 2004-18
OCC Bulletin
Subject: Bank Secrecy Act/Anti-Money Laundering
Description: Final Rules: Imposition of Special
Measures Against Burma, Myanmar Mayflower Bank,
and Asia Wealth Bank
Date: May 5, 2004

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

This bulletin transmits two final rules published
on April 12, 2004, that impose special measures
against Burma, Myanmar Mayflower Bank (MMB), and
Asia Wealth Bank (AWB).  The rules (31 CFR 103.186
and 31 CFR 103.187) follow notices of proposed rulemaking.
The rules also follow the Secretary of the Treasury's
November 18, 2003, designation, under section 311 of the
USA PATRIOT Act, of Burma as a jurisdiction and MMB and AWB
as financial institutions of primary money laundering concern
(see OCC Bulletin 2003-46).  

Effective May 12, national banks must terminate any 
correspondent account that is established, maintained,
administered, or managed in the United States for, or
on behalf of, a Burmese banking institution or for, or
on behalf of, MMB or AWB.  Also, national banks must
terminate accounts for foreign banks that are used to
ndirectly provide services to a Burmese banking institution,
MMB, or AWB.  The prohibitions extend to payable-through
accounts and correspondent accounts with foreign branches
of these institutions. The Central Bank of Burma is excluded
from the rules, and some exceptions are allowed pursuant to
Executive Order 13310.  However, such exceptions are not
applicable to transactions related to MMB and AWB.

Questions about the final regulations may be directed to your
OCC supervisory office or the Compliance Division at (202) 874-4428.

_____________________________
Ann F. Jaedicke
Deputy Comptroller for Compliance 


Attachments-Imposition of Special Measures Against Burma
	    Imposition of Special Measures Against Myanmar Mayflower 
	    Bank and Asia Wealth Bank
[http://www.occ.treas.gov/fr/fedregister/69fr19093.pdf]
[http://www.occ.treas.gov/fr/fedregister/69fr19098.pdf]