Category:FinCen Embargoed Countries

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USA Patriot Act

The official title of the USA PATRIOT Act is "Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001." To view this law in its entirety, click on the USA PATRIOT Act link below USA PATRIOT Act.

The purpose of the USA PATRIOT Act is to deter and punish terrorist acts in the United States and around the world, to enhance law enforcement investigatory tools, and other purposes, some of which include:

• To strengthen U.S. measures to prevent, detect and prosecute international money laundering and financing of terrorism;
• To subject to special scrutiny foreign jurisdictions, foreign financial institutions, and classes of international transactions or types of accounts that are susceptible to criminal abuse;
• To require all appropriate elements of the financial services industry to report potential money laundering;
• To strengthen measures to prevent use of the U.S. financial system for personal gain by corrupt foreign officials and facilitate repatriation of stolen assets to the citizens of countries to whom such assets belong.

FinCen - US Patriot Act Section 311

Special Measures for Jurisdictions, Financial Institutions, or International Transactions of Primary Money Laundering Concern

This Section allows for identifying customers using correspondent accounts, including obtaining information comparable to information obtained on domestic customers and prohibiting or imposing conditions on the opening or maintaining in the U.S. of correspondent or payable-through accounts for a foreign banking institution FinCen 311 in Alphabetical Order.

FinCen - AML/CFT Deficiencies Warning List

April 24, 2013 - Guidance to Financial Institutions Based on the Financial Action Task Force Public Statement on Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) Risks

The Financial Crimes Enforcement Network (FinCEN) is issuing this advisory to inform banks and other financial institutions operating in the United States of the risks of money laundering and financing of terrorism associated with jurisdictions identified by the Financial Action Task Force (FATF),

• on February 22, 2013, as having deficiencies in their AML/CFT regimes and that
  • have not made sufficient progress in addressing these deficiencies or
  • are subject to FATF’s call for countermeasures.
• Also, FinCEN is issuing a complementary advisory today, FIN-2013-A003,
• which addresses a separate, but related, FATF document identifying jurisdictions with strategic AML/CFT deficiencies, for which each jurisdiction has provided a high-level political commitment to address.

November 19, 2012 - Description of Third-Party Payment Processors

The Financial Crimes Enforcement Network (FinCEN) is issuing this Advisory to provide guidance to financial institutions when filing Suspicious Activity Reports (SARs) on activities related to third-party payment processors (“Payment Processors”). This Advisory furthers the Department of the Treasury’s broader efforts to protect the U.S. financial system from money laundering and terrorist financing.

FinCen guidance FIN-2012-A010

November 15, 2011 - Guidance to Financial Institutions Based on the Financial Action Task Force Public Statement on Anti-Money Laundering and Counter-Terrorist Financing Risks.

1. Countermeasures: Iran and Democratic People's Republic of Korea (DPRK).
2. Enhanced Due Diligence (EDD): Cuba; Bolivia; Ethiopia; Kenya; Myanmar; Nigeria; São Tomé and Príncipe; Sri Lanka; Syria, and Turkey.

FinCen detailed information / guidance note on Countermeasures & EDD FIN-2011-A015

Guidance to Financial Institutions Based on the Financial Action Task Force Publication on Anti-Money Laundering and Counter-Terrorist Financing Risks posed by Algeria; Angola; Antigua and Barbuda; Argentina; Bangladesh; Brunei Darussalam; Cambodia; Ecuador; Ghana; Honduras; Kyrgyzstan; Indonesia; Mongolia; Morocco; Namibia; Nepal; Nicaragua; Pakistan; Paraguay; Philippines; Sudan; Tajikistan; Tanzania; Thailand; Trinidad and Tobago; Turkmenistan Venezuela; Vietnam; Yemen; and Zimbabwe; and the substantial AML/CFT improvements in Ukraine.

FinCen overview of Countries with AML/CFT deficiencies - FIN-2011-A014

July 13, 2011 - Guidance to Financial Institutions Based on the Financial Action Task Force Public Statement on Anti-Money Laundering and Counter-Terrorist Financing Risks.

Guidance to Financial Institutions Based on the Financial Action Task Force Public Statement on Anti-Money Laundering and Counter-Terrorist Financing Risks.

1. Countermeasures: Iran and Democratic People's Republic of Korea (DPRK).
2. Enhanced Due Diligence (EDD): Bolivia; Cuba; Ethiopia; Kenya; Myanmar; Sri Lanka; Syria, and Turkey.

FinCen detailed information / guidance note on Countermeasures & EDD FIN-2011-A012

Guidance to Financial Institutions Based on the Financial Action Task Force Publication on Anti-Money Laundering and Counter-Terrorist Financing Risks posed by Angola; Antigua and Barbuda; Argentina; Bangladesh; Brunei Darussalam; Cambodia; Ecuador; Ghana; Honduras; Indonesia; Mongolia; Morocco; Namibia; Nepal; Nicaragua; Nigeria; Pakistan; Paraguay; Philippines; São Tomé and Príncipe; Sudan; Tajikistan; Tanzania; Thailand; Trinidad and Tobago; Turkmenistan; Ukraine; Venezuela; Vietnam; Yemen; and Zimbabwe; and the substantial AML/CFT improvements in Greece.

FinCen overview of Countries with AML/CFT deficiencies - FIN-2011-A011