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Inactive Financial Institution Letters


Bank Secrecy Act Compliance

FIL-122-98
November 18, 1998

 

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: FinCEN Advisory

Attached is a copy of the Department of the Treasury's October 1998 issue of FinCEN Advisory, published by the department's Financial Crimes Enforcement Network (FinCEN).

FinCEN Advisory is designed to keep financial institutions, regulatory agencies and law enforcement agencies advised of trends and developments related to money laundering and financial crime. The periodical provides intelligence and analysis for case support to federal, state, local and international law enforcement and regulatory agencies, while furnishing financial communities with the information they need to help prevent and detect financial crime. For more information about FinCEN programs, you may visit the FinCEN Web site at http://www.fincen.gov.

In a continuing effort to assist banks in Bank Secrecy Act compliance, anti-money laundering efforts, and prevention and detection of other financial crimes, the Federal Deposit Insurance Corporation (FDIC) forwards each issue of FinCEN Advisory to FDIC-supervised banks. The current issue addresses the revised Currency Transaction Report (CTR) exemption process. Please circulate copies to each department of your institution with Bank Secrecy Act compliance and internal security responsibilities.

Comments about FinCEN Advisory should be addressed to the Financial Crimes Enforcement Network, Office of Communications, U.S. Department of the Treasury, 2070 Chain Bridge Road, Vienna, VA 22182. Comments may also be faxed to FinCEN at (703) 905-3885.

  Nicholas J. Ketcha Jr.
  Director


Attachment: http://www.fincen.gov

Distribution: Distribution: FDIC-Supervised Banks (Commercial and Savings)

Paper copies of FDIC financial institutions letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).

Last Updated 4/11/2005 communications@fdic.gov