This regulation, found in the Code of Federal Regulations under the Money and Finance: Treasury section, pertains to financial institutions and their issuance or sale of bank checks and drafts, cashier’s checks, money orders, and traveler’s checks. The regulation states that no financial institution can issue or sell these instruments for $3,000 or more in currency without maintaining records of certain information. If the purchaser has a deposit account with the financial institution, the institution must obtain and record the purchaser’s name, date of purchase, type(s) of instrument(s) purchased, serial number(s) of the instrument(s) purchased, and the amount in dollars of each instrument.

This document, part of the Code of Federal Regulations, specifically the Regulations Relating to Money and Finance, pertains to the Financial Crimes Enforcement Network (FinCEN) under the Department of the Treasury. It outlines the requirements for retaining records in the financial industry. Financial institutions are required to retain copies of both the front and back of checks, drafts, monetary instruments, investment securities, and similar instruments or documents, except for blank or standardized printed information.

This legal document, found in the Code of Federal Regulations, outlines the special information sharing procedures between government agencies and financial institutions to deter money laundering and terrorist activity. It defines ‘financial institution’ as any financial institution described in 31 U.S.C. 5312(a)(2) and ’law enforcement agency’ as a Federal, State, local, or foreign law enforcement agency with criminal investigative authority. The document allows law enforcement agencies investigating terrorist activity or money laundering to request that the Financial Crimes Enforcement Network (FinCEN) solicit information from financial institutions.

This document provides definitions for terms used in the context of special due diligence for correspondent accounts and private banking accounts. It defines the beneficial owner of an account as an individual who has control over or entitlement to the funds or assets in the account. The document also defines certification and recertification as the forms regarding correspondent accounts for foreign banks located on FinCEN’s website. It further explains the term correspondent account, which refers to an account established for a foreign financial institution or a foreign bank to receive deposits, make payments, or handle other financial transactions.

This document outlines the requirements for due diligence programs for correspondent accounts for foreign financial institutions. It applies to covered financial institutions and mandates the establishment of a due diligence program that includes appropriate policies, procedures, and controls to detect and report money laundering activities. The program should assess the money laundering risk presented by each correspondent account and apply risk-based procedures and controls to detect and report suspicious activity. Enhanced due diligence procedures are required for correspondent accounts established for certain foreign banks.

This legal document, found in the Code of Federal Regulations, pertains to due diligence programs for private banking accounts. It requires covered financial institutions to maintain a due diligence program that includes policies, procedures, and controls to detect and report money laundering or suspicious activity involving private banking accounts. The program must ascertain the identity of all nominal and beneficial owners of the account, determine if any person is a senior foreign political figure, ascertain the source of funds and purpose of the account, and review account activity for consistency.

This legal document, part of the Code of Federal Regulations, pertains to covered financial institutions. It prohibits covered financial institutions from establishing, maintaining, administering, or managing correspondent accounts in the United States for foreign shell banks. They are also required to take reasonable steps to ensure that correspondent accounts established for foreign banks are not indirectly used by those banks to provide banking services to foreign shell banks. Covered financial institutions must maintain records in the United States identifying the owners of each foreign bank whose shares are not publicly traded, as well as the name and address of a person authorized to accept service of legal process for each account.

This document governs the issuance of summons or subpoenas to foreign banks that maintain a correspondent account in the United States, as well as the termination of correspondent relationships. The Secretary or the Attorney General may issue a summons or subpoena to request records related to the correspondent account, including records maintained outside of the United States. Covered financial institutions are required to provide information to Federal law enforcement officers upon request.

This document governs the enforcement, penalties, and forfeiture related to the regulations under the Code of Federal Regulations, specifically the regulations relating to money and finance. The overall authority for enforcement and compliance is delegated to the Director of the Financial Crimes Enforcement Network (FinCEN). The document outlines the authority to examine financial institutions for compliance with the regulations, which is delegated to various agencies depending on the type of institution.

This document, under the Code of Federal Regulations, governs the enforcement, penalties, and forfeiture related to financial crimes. It applies to domestic financial institutions, as well as partners, directors, officers, and employees who willfully participate in violations. The document outlines various civil penalties that the Secretary may assess for different types of violations. These penalties include fines up to $1,000 for willful violations committed before October 12, 1984, fines up to $10,000 for willful violations committed between October 12, 1984, and October 28, 1986, fines up to $1,000 for willful violations of recordkeeping requirements (except 1010.