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Highlights:
- On March 14, 2007, the Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued the attached final rule designating Banco Delta Asia SARL, Macau Special Administrative Region, China, to be a financial institution of "primary money laundering concern" under Section 311 of the USA PATRIOT Act.
- The final rule includes a special measure that prohibits or imposes conditions upon the opening or maintaining of correspondent or payable-through accounts in the U.S. for, or on behalf of, Banco Delta Asia SARL.
- This prohibition extends 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 Banco Delta Asia SARL indirectly.
- The final rule will be effective April 18, 2007.
Distribution:
FDIC-Supervised Banks (Commercial and Savings)
Suggested Routing:
Chief Executive Officer
BSA Compliance Officer
Related Topics:
Bank Secrecy Act
Attachment:
Final Rule - PDF 101k (PDF Help)
Contact:
Review Examiner Heather L. Basnett at
SAS FIL@FDIC.gov or (202) 898-3673
Printable Format:
FIL-30-2007 - PDF 35k (PDF Help)
Note:
FDIC financial institution letters (FILs) may be
accessed from the FDIC's Web site at
www.fdic.gov/news/news/financial/2007/index.html.
To receive FILs electronically, please visit
http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC financial institution letters
may be obtained through the FDIC's Public
Information Center, 3501 Fairfax Drive,
Room E-1002, Arlington, VA 22226 (1-877) 275-
3342 or 703-562-2200.
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