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BANK SECRECY ACT COMPLIANCE

BSA/AML, OFAC and Fraud
January 12, 2001

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Frequently Asked Bank Secrecy Act Questions

The Financial Crimes Enforcement Network (FinCEN) has recently published answers to frequently asked Bank Secrecy Act (BSA) questions. Several Suspicious Activity Report (SAR) issues also are addressed. A hard copy is attached for your information. Additional questions and answers will be posted on FinCEN's Web site periodically. This and other information about BSA and SAR compliance may be found on the Web site at www.fincen.gov/ .

If you have BSA questions, you may contact FinCEN's Regulatory Helpline at 1-800-949-2732. Leave a message with your name, your financial institution's name, and a telephone number, and a member of the FinCEN staff will return your call promptly.

For your reference, all FDIC Financial Institution Letters published since January of 1995 may be found on the FDIC's Web site at www.fdic.gov under "News, Events & FOIA."

Michael J. Zamorski
Acting Director

Attachment: Answers to Frequently Asked Bank Secrecy Act (BSA) Questions

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).


FIL-4-2001

Last Updated: January 12, 2001