Financial Crimes Enforcement Network May 2018 – Federal Register Recent Federal Regulation Documents

FinCEN, a bureau of the U.S. Department of the Treasury (``Treasury''), invites all interested parties to comment on the Bank Secrecy Act (``BSA'') regulations implemented pursuant to section 104(e) of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (``CISADA'') and consistent with its statutory mission under 31 U.S.C. 310. FinCEN is proposing to renew this information collection without change. The rule requires a U.S. bank that maintains a correspondent account for a foreign bank to inquire of the foreign bank, and report to FinCEN upon written request, certain information with respect to transactions or other financial services provided by that foreign bank.