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Detection and Prevention of Financial Crimes

BSA/AML, OFAC and Fraud
April 10, 1996

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: FinCEN Advisory

The Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has begun publication of the FinCEN Advisory, a periodical that advises financial institutions, regulatory agencies and law enforcement agencies of trends and developments related to money laundering and financial crime. The goal of the FinCEN Advisory is to provide intelligence and analysis for case support to federal, state, local and international law enforcement and regulatory agencies, while also providing the financial communities with the information they need to help prevent and detect financial crime.

The first two issues of the FinCEN Advisory are attached. As future issues are published, the Federal Deposit Insurance Corporation (FDIC) will forward them to FDIC-supervised banks in its continuing effort to assist banks in Bank Secrecy Act compliance, anti-money laundering efforts, and prevention and detection of other financial crimes.

Please circulate the attachments to each department of your institution with Bank Secrecy Act compliance and internal security responsibilities. Comments concerning the contents of the FinCEN publication should be addressed to the Financial Crimes Enforcement Network, Office of Communications, U.S. Department of the Treasury, 2070 Chain Bridge Road, Vienna, VA 22182. Comments also may be faxed to FinCEN at (703) 905-3885.

Nicholas J. Ketcha Jr.
Director

Attachment:

The attachment to this Financial Institution Letter is not currently available in electronic format. Until it is in a form that will allow us to post it to the internet, you may obtain hard copy or fax from:

FDIC Public Information Center Room 100 801 17th St. NW Washington, DC 20434

ph: (703) 562-2200

Distribution: FDIC-Supervised Banks (Commercial and Savings)


FIL-21-96

Last Updated: April 10, 1996