The Board of Governors of the Federal Reserve System, in consultation with the other federal banking agencies and the Financial Crimes Enforcement Network, have issued the attached responses to questions frequently asked by financial institutions regarding the applicability of certain provisions of the Bank Secrecy Act in providing services to victims of Hurricane Katrina.
This list of questions and answers, which is also available on the Federal Reserve's web site, may be expanded as new questions arise. For further information, please contact Bridget Neill, manager of the Anti-Money Laundering Policy and Compliance Section, at (202) 452-5235, or Suzanne Williams, senior special anti-money laundering examiner, at (202) 452-3513.