Part I: Terrorism, Money Laundering and the USA
PATRIOT Act
Part II: Financial Institutionsâ Anti-Money Laundering
and Anti-Terrorism Responsibilities
Part III: Money Laundering and Currency Reporting
Laws
Part IV: Regulatory Agencies and Supervisory and
Enforcement Procedures
Part V: International Agencies and Foreign Country
Enforcement
Part I: Terrorism, Money Laundering and the USA
PATRIOT Act
Chapter 1.1 -- Effect of September 11 on Financial
Institutions, Legislative Initiatives, and Regulatory Attitudes
Chapter 1.2 -- Impact of the USA PATRIOT Act
on Financial Institutions
- 1.2-1 International Money Laundering Abatement and Anti-Terrorism
Financing Act of 2001
- [1] General Effect of Legislation
- [2] Executive Order No. 13224
- 1.2-2 Covered Institutions
- 1.2-3 Affected Institutions
- 1.2-4 Expanded Coverage
- [1] Anti-Money Laundering Program Requirement
- [2] Treasuryâs Interim Final Rules For Financial Institutions
- [3] Securities Brokers and Dealers
- [4] Futures Commission Merchants and Introducing Brokers
- [5] Mutual Funds
- [6] Investment Companies and Funds
- [7] Minimum Identification Standards
- 1.2-5 Reporting Suspicious Activities by Brokers and Dealers
and Investment Companies
- [1] Securities Brokers and Dealers
- [2] Commodities Traders
- [3] Investment Companies and Fund
- 1.2-6 Enhanced Due Diligence for Correspondent Accounts and
Private Banking
- [1] Correspondent Account Regulations
- [2] Private Banking Account Regulations
- 1.2-7 Prohibition of Correspondent Accounts With Foreign Shell
Banks
- [1] Interim and Proposed Guidance
- [2] Industry Comments
- 1.2-8 Regulation of Concentration Accounts
- 1.2-9 Special Measures
- 1.2-10 Additional Underlying Offenses to Money Laundering
- 1.2-11 New Document Production Requirements
- [1] Production of Records Located Outside the United States;
Penalty for Failure to Comply
- [2] The 120-Hour Rule
- [3] Credit Histories
- [4] Safe Harbor Provision
- [5] Disclosures in Employment References
- [6] Disclosure of Information at the Request of the Government
- [7] Disclosure of Grand Jury Material
- [8] Expansion of Authority of the FBI to Obtain Financial
Records
- [9] Disclosure of Account Information To Other Institutions
- 1.2-12 Expansion of Extraterritorial Jurisdiction and Forfeiture
of Assets
- [1] Pre-Trial Restraining Orders
- [2] Seizure and Forfeiture of Substitute Assets
- [3] Blocking Assets to Satisfy Foreign Judgments
- [4] Property Related to Terrorist Activities
- 1.2-13 Additional Reasons for Instituting Effective Anti-Money
Laundering Programs
- [1] Department of Justice Enforcement Action Decisions
Affected by Compliance Programs
- [2] Federal Sentencing Guidelines
- [3] SEC Framework for Evaluating Cooperation
Part II: Financial Institutionsâ Anti-Money Laundering
and Anti-Terrorism Responsibilities
Chapter 2.1 -- General Requirements for Financial Institutions
- 2.1-1 Definition of Financial Institution under Bank Secrecy
Act
- 2.1-2 Currency Transaction Reporting and Recordkeeping
- [1] Purchases of Bank Checks and Drafts, Cashierâs Checks,
Money Orders and Travelerâs Checks
- [2] Funds Transfers
- [3] Transportation of Currency and Monetary Instruments
- [4] Transactions With Foreign Financial Agencies
- 2.1-3 Suspicious Activity Reporting
- 2.1-4 Penalties for Noncompliance With Reporting and Recordkeeping
Requirements
- [1] Civil Penalties
- [2] Criminal Penalties
- 2.1-5 Money Laundering Programs for Financial Institutions
- 2.1-6 Information Sharing
- [1] Information Sharing With the Federal Government
- [2] Voluntary Information Sharing Among Financial Institutions
- 2.1-7 Correspondent Relationships
- [1] Correspondent Account Defined
- [2] Permanent Subcommittee Report on Correspondent Banking
- [3] Regulation of Correspondent Relationships
- 2.1-8 Due Diligence For Private Banking and Correspondent Accounts
- [1] Proposed Due Diligence Regulations
- [2] Noncooperative Countries
- [3] Private Banking Accounts for Non-U.S. Persons
- 2.1-9 Associations of Financial Institutions
Chapter 2.2 -- Banks
- 2.2-1 Definition of Bank
- 2.2-2 Currency Transaction Reporting and Recordkeeping
- [1] Exempt Persons
- [2] Revocation of Exemption by FinCEN
- 2.2-3 Suspicious Activity Reporting by Banks
- [1] Maintaining Records
- [2] Confidentiality
- 2.3-4 Information for Opening Accounts
- 2.2-5 Commercial Banks
- [1] Definition of Commercial Banking
- [2] Currency Transaction and Suspicious Activity Reporting
- 2.2-6 Trust Companies
- 2.2-7 Savings and Thrift Institutions
- 2.2-8 Credit Unions
- 2.2-9 Private Banks
- [1] Federal Reserve Guidance
- [2] FATF Typologies Report and Private Banking Issues
- 2.2-10 Foreign Banks
- [1] Definition of Foreign Bank
- [2] Foreign Bank and Financial Account Reporting
- 2.2-11 Corporations Conducting Overseas Banking Operations
- 2.2-12 State-Regulated Institutions
- 2.2-13 Bank Holding Companies
- 2.2-14 Other Institutions With Banking Activities
Chapter 2.3 -- Brokers, Dealers, Exchange Activities, Mutual
Funds
- 2.3-1 Brokers and Dealers
- [1] GAO Report on Vulnerability of the Securities Industry
- [2] Definition of Broker or Dealer
- [3] Identification of Account Holders
- [4] Suspicious Activity Reporting
- [5] Accounts in Foreign Securities Firms
- 2.3-2 Anti-Money Laundering Programs of Self-Regulatory Organizations
- 2.3-3 Commodities, Currency, and Futures Activities
- [1] Futures Commission Merchants and Introducing Brokers
- [2] Commodity Pool Operators
- [3] Commodity Trading Advisors
- 2.3-4 Funds
- [1] Mutual Funds
- [2] Investment Companies
- [3] Investment Advisors
- [4] Hedge Funds
- [5] Private Equity Funds
- [6] Venture Capital Funds
- 2.3-5 Exchanges, Clearing Agencies, and Other Trading-Related
Entities
Chapter 2.4 -- Insurance Companies
- 2.4-1 Currency Transaction and Suspicious Activity Reporting
- 2.4-2 Suspicious Activity Reporting
- 2.4-3 Anti-Money Laundering Programs
- 2.4-4 OFAC Compliance Guidelines for Insurers
Chapter 2.5 -- Money Services Businesses
- 2.5-1 Definition of Money Services Business
- 2.5-2 Registration of Money Services Businesses
- 2.5-3 Currency Transaction and Suspicious Activity Reporting
- 2.5-4 Anti-Money Laundering Programs
- 2.5-5 Currency Dealers and Exchangers
- [1] Customer Identification and Record Retention
- [2] Recordkeeping
- 2.5-6 Check Cashers
- 2.5-7 Issuers, Redeemers, and Cashiers of Travelerâs Checks
and Money Orders
- 2.5-8 Money Transmitters
Chapter 2.6 -- Casinos and Gaming Establishments
- 2.6-1 Currency Transaction and Suspicious Activity Reports
- [1] Information on Deposits, Accounts, and Lines of Credit
- [2] FinCEN Report
- [3] Money Laundering Programs
- [4] Correspondent Accounts
- 2.6-2 Indian Gaming Establishments
Chapter 2.7 -- Other Financial Institutions
- 2.7-1 Credit Card System Operators
- 2.7-2 Loan and Finance Companies
- 2.7-3 Dealers in Physical Assets and the Tourist Industry
- [1] Car, Airplane, and Boat Dealers
- [2] Dealers in Precious Metals, Stones, or Jewels
- [3] Real Estate Closing and Settlement Agencies
- [4] Tourist Industry
- 2.7-4 Pawnbrokers
- 2.7-5 Telegraph Companies
Chapter 2.8 -- Civil and Criminal Penalties
- 2.8-1 General Effect of the USA PATRIOT Act on Penalties
- 2.8-2 Investigations
- 2.8-3 Injunctions
- 2.8-4 Penalty and Forfeiture Authority Generally with Treasury
- 2.8-5 Civil Penalties
- [1] General Civil Penalty for Violating BSA
- [2] Penalty for Violating Reporting on Importing or Exporting
Monetary Instruments
- [3] Penalty for Failure to File Reports on Foreign Currency
Positions and Transactions
- [4] Structuring
- [5] Foreign Financial Agency Transaction Violations
- [6] Negligence
- [7] International Counter Money Laundering Violations
- [8] Limitations on Civil Assessment
- [9] Delegation of Civil Penalty Authority to Banking Agencies
- 2.8-6 Criminal Penalties
- 2.8-7 Forfeitures
- 2.8-8 Rewards for Informants
- 2.8-9 Penalties for Failure to File Form 8300
- 2.8-10 Sentencing
Part III: Money Laundering and Currency Reporting
Laws
Chapter 3.1 -- The Bank Secrecy Act and Currency Reporting
Requirements
- 3.1-1 Financial Institutions Under the BSA
- 3.1-2 Recordkeeping Requirements
- 3.1-3 Reporting Requirements
- 3.1-4 Structuring Prohibited
- 3.1-5 Suspicious Activity Reports
- 3.1-6 Protection from Liability for Filing SARs, CRFs or Similar
Reports
Chapter 3.2 -- The Money Laundering Control Act
- 3.2-1 Section 1956
- 3.2-2 Section 1957
- 3.2-3 The Willful Blindness Standard
Chapter 3.3 -- Other Federal Legislation Affecting Money Laundering
Responsibilities
- 3.3-1 The Money Laundering and Financial Crimes Strategy Act
of 1998
- 3.3-2 The Money Laundering Act of 1998
- 3.3-3 The Money Laundering Prevention Act of 1999
- 3.3-4 The Foreign Money Laundering Deterrence and Anticorruption
Act
- 3.3-5 The Money Laundering Abatement Act of 1999
- 3.3-6 Corporate Criminal Liability
- 3.3-7 The Bank Death Penalty
Part IV: Regulatory Agencies and Supervisory and
Enforcement Procedures
Chapter 4.1 -- Federal Regulatory Agencies
- 4.1-1 Introduction
- 4.1-2 Bureau of Export Administration
- 4.1-3 Bureau for International Narcotics and Law Enforcement
Affairs
- 4.1-4 Commodity Futures Trading Commission
- [1] National Futures Association
- [2] Suspicious Activity Reporting
- 4.1-5 Counterterrorism Office
- 4.1-6 Department of Justice
- [1] Criminal Division, Asset Forfeiture and Money Laundering
Section
- [2] Criminal Division, Fraud Section
- 4.1-7 Department of State
- [1] Prohibition of Assistance to Drug Traffickers
- [2] Treaties
- 4.1-8 Department of the Treasury
- 4.1-9 Drug Enforcement Administration
- 4.1-10 Farm Credit Administration
- 4.1-11 Federal Bureau of Investigation
- [1] Cooperation With The Department of State
- [2] Financial Institutions and the FBI
- 4.1-12 Federal Deposit Insurance Corporation
- [1] Examination Policies
- [2] Persons Convicted of Money Laundering
- [3] Employment References
- [4] Suspicious Activity Reports
- [5] Retention of Records
- 4.1-13 Federal Law Enforcement Training Center
- 4.1-14 Federal Reserve Board [1] Bank Secrecy Act Examination
Manual [2] Authority to Designate Law Enforcement Officers
[3] Disaster Response Capabilities [4] Private Banking Regulation
[5] Anti-Money Laundering Examination Work Program
- 4.1-15 Federal Trade Commission
- [1] Identity Theft
- [2] Credit Bureaus
- 4.1-16 Financial Crimes Enforcement Network
- [1] Intelligence Gathering
- [2] Law Enforcement Support
- [3] International Affiliations
- [4] Indicators of Terrorism
- [5] Forms Designed and Used by FinCEN
- 4.1-17 Financial Crime-Free Communities Support Program
- 4.1-18 General Accounting Office
- 4.1-19 High-Intensity Money Laundering and Related Financial
Crimes Areas (HIFCAs) Working Group and Task Forces
- 4.1-20 Homeland Security Advisory System
- 4.1-21 Internal Revenue Service
- [1] IRS and Terrorism
- [2] IRS and Money Laundering
- [3] Section 6050I
- [4] Disclosure of Return Information
- [5] BSA Forms
- [6] IRS Records Systems With Money Laundering Information
- 4.1-22 National Credit Union Administration
- 4.1-23 Office of the Comptroller of the Currency
- [1] Bank Secrecy Act Compliance
- [2] OCC Enforcement
- [3] Referring Violations to FinCEN
- [4] OCC Administrative Action
- 4.1-24 Office of Foreign Assets Control
- [1] Designated Foreign Nationals
- [2] Blocking Terrorist Assets
- [3] Reports on Blocked Property
- [4] Reports on Rejected Funds Transfers
- [5] Reports on Arbitration and Other Proceedings
- [6] 602 Letters
- [7] OFAC Interactions With Banks
- [8] Interdict Software
- [9] Listed Countries
- [10] OFAC and Securities Firms
- [11] OFAC and the Insurance Industry
- [12] Transaction Reports
- 4.1-25 Office of Thrift Supervision
- [1] Compliance Activities Handbook
- [2]Reporting Requirements
- [3] Wire Transfers, Payable Through Accounts, OFAC
- [4] Examination
- 4.1-25 Office of Victims of Crime
- 4.1-27 Securities and Exchange Commission
- [1] National Association of Securities Dealers
- [2] New York Stock Exchange
- [3] SEC Approval
- 4.1-28 United States Postal Service
- 4.1-29 United States Secret Service
- [1] Financial Crimes Division
- [2]Financial Institution Fraud Initiatives
- [3] Task Forces
Chapter 4.2 -- State Agencies and State Regulation
- 4.2-1 Overview
- 4.2-2 State Insurance Regulators
- [1] GAO Warns Report on Terrorism Insurance
- [2] National Association of Insurance Commissioners
- [3] State Insurance Regulators
- 4.2-3 State Banking Regulators
- [1] Defining ãBankä
- [2] State Banking Regulators
- 4.2-4 Other State Regulatory Agencies
- 4.2-5 State Criminal Enforcement Units and Homeland Security
State Contacts
Part V: International Agencies and Foreign Country
Enforcement
Chapter 5.1 -- International Trend Towards Transparency
- 5.1-1 Expansion of Anti-Money Laundering Laws
- [1] Reporting Requirement
- [2] Application of the Anti-Money Laundering Laws to Fiscal
Offenses
- [3] Tax Havens and Anti-Tax Haven Initiatives
- [4] OECD Report on Harmful Tax Competition
- [5] Financial Action Task Force (FATF)
- 5.1-2 European Initiatives Towards Transparency
- [1] Council of Europe
- [2] European Union
- 5.1-2 International Initiatives
- [1] United Nations
- [2] Financial Stability Forum
- [3] Treaties and Informal Information Exchanges
Chapter 5.2 -- International Organizations and Agencies
- 5.2-1 Introduction
- 5.2-2 Asia Pacific Group on Money Laundering
- 5.2-3 Basel Committee on Banking Supervision
- [1] Basel Committee and Money Laundering
- [2] Basel Committee and Counter-Terrorism Measures
- 5.2-4 Caribbean Financial Action Task Force
- 5.2-5 Council of Europe
- 5.2-6 Egmont Group
- 5.2-7 European Bank for Reconstruction and Development
- 5.2-9 European Union
- [1] EU and Money Laundering
- [2] Criminal Investigation Cooperation Protocol
- 5.2-10 Financial Action Task Force
- [1] FATF Recommendations on Money Laundering
- [2] U.S. and Compliance With 40 Recommendations
- [3] Noncooperative Countries
- [4] Terrorist Financing
- [5] Money Laundering Typologies and Counter-Terrorism Measures
- [6] Euro Banknotes
- [7] Suspicious Transaction Reports Effective in Producing
Prosecutions
- 5.2-11 Financial Stability Forum
- 5.2-12 Inter-American Development Bank (IADB)
- 5.2-13 International Association of Insurance Supervisors
- 5.2-14 International Monetary Fund
- [1] IMF and Terrorism
- [2] IMF and Money Laundering
- 5.2-15 International Organization of Securities Commissioners
- 5.2-16 Interpol (International Criminal Police Organization)
- [1] Interpol and Money Laundering
- [2] Resources Provided Member Organizations
- 5.2-17 Organization of American States
- 5.2-18 United Nations
- [1] United Nations and Money Laundering
- [2] Global Programme Against Money Laundering
- [3] United Nations and Terrorism
- 5.2-19 Wolfsberg Principles
- 5.2-20 World Bank
- 5.2-21 World Customs Organization
Chapter 5.3 -- Foreign Countries and Jurisdictions
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