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Financial Institution Letters

Bank Secrecy Act
Banco Delta Asia Sarl - Designation of Primary Money Laundering Concern
FIL-30-2007
April 2, 2007


Summary: The Department of the Treasury has designated Banco Delta Asia SARL, Macau Special Administrative Region, China, as a financial institution of primary money laundering concern and has issued the attached final rule restricting domestic financial institutions' banking relationships with this entity.

Highlights:

  • On March 14, 2007, the Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued the attached final rule designating Banco Delta Asia SARL, Macau Special Administrative Region, China, to be a financial institution of "primary money laundering concern" under Section 311 of the USA PATRIOT Act.
  • The final rule includes a special measure that prohibits or imposes conditions upon the opening or maintaining of correspondent or payable-through accounts in the U.S. for, or on behalf of, Banco Delta Asia SARL.
  • This prohibition extends to correspondent or payable- through accounts maintained for other foreign banks when such accounts are used by the foreign bank to provide financial services to Banco Delta Asia SARL indirectly.
  • The final rule will be effective April 18, 2007.

Distribution:
FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Executive Officer
BSA Compliance Officer

Related Topics:
Bank Secrecy Act

Attachment:
Final Rule - PDF 101k (PDF Help)

Contact:
Review Examiner Heather L. Basnett at
SAS FIL@FDIC.gov or (202) 898-3673

Printable Format:
FIL-30-2007 - PDF 35k (PDF Help)

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2007/index.html.

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.

Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, Room E-1002, Arlington, VA 22226 (1-877) 275- 3342 or 703-562-2200.




Last Updated 4/2/2007 communications@fdic.gov