(AGENPARL) - Roma, 8 Marzo 2023 - (AGENPARL) – mer 08 marzo 2023 You are subscribed to FinCEN Updates. The information below is available at Fincen.gov.
FinCEN Requests Comments on Renewal of the OMB Control Number for Bank Secrecy Act Requirements in Connection with the Imposition of a Special Measure Against the Islamic Republic of Iran as a Jurisdiction of Primary Money Laundering Concern
On March 8, 2023, the Financial Crimes Enforcement Network (FinCEN) published in the Federal Register a 60-day notice to renew the Office of Management and Budget (OMB) control number assigned to existing Bank Secrecy Act regulations at 31 CFR 1010.661. Specifically, the regulations require that U.S. financial institutions take reasonable steps to not process transactions for the correspondent account of a foreign bank in the United States, if such transactions involve an Iranian financial institution. The regulations also require U.S. financial institutions to apply special due diligence that is reasonably designed to guard against correspondent accounts being used to process prohibited transactions involving Iranian financial institutions. The notice is required to give the public an opportunity to comment on existing regulatory requirements and burden estimates. The notice requests feedback from industry on or before May 8, 2023. FinCEN encourages the public to review this notice and provide comment.
Federal Register Notice: https://www.federalregister.gov/public-inspection/2023-04713/agency-information-collection-activities-proposals-submissions-and-approvals-imposition-of-the-fifth
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