Inactive Financial Institution Letters
Banco Delta Asia SARL – Subject of Primary Money Laundering
September 23, 2005
The Department of the Treasury
has designated Banco Delta Asia SARL, Macau Special Administrative Region,
China, to be a financial institution of primary money laundering concern and has
issued proposed countermeasures.
- On September 20, 2005, the Department of the Treasury's Financial Crimes
Enforcement Network (FinCEN) announced the designation of Banco Delta
Asia SARL, Macau Special Administrative Region, China, as a financial
institution of "primary money laundering concern" under Section 311 of
the USA PATRIOT Act (see attached Federal Register notice).
- Treasury is issuing the attached proposed rule to impose special
measures against Banco Delta Asia SARL. The proposed rule would prohibit
U.S. financial institutions from opening or maintaining correspondent or
payable-through accounts in the U.S. for, or on behalf of, Banco Delta
- This proposed 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
- Treasury is soliciting written comments regarding this proposed rule.
The proposed rule can be found on the FinCEN Web site under "What's New"
at http://www.fincen.gov. Comments
must be submitted on or before October 20, 2005, to Treasury via
electronic mail at email@example.com.
Include RIN 1506-A83 in the subject line of the message. Comments may
also be submitted by paper mail to FinCEN, P.O. Box 39, Vienna, Virginia
22183. Include RIN 1506-A83 in the body of the text.
- Please distribute this information to the appropriate personnel in your
FDIC-Supervised Banks (Commercial and Savings)
Chief Executive Officer
BSA Compliance Officer
Federal Register Notice of Finding -
PDF 104k (PDF Help)
Federal Register Notice of Proposed
Rulemaking - PDF 64k (PDF Help)
Financial Analyst Debra L. Novak at SASFIL@FDIC.gov or (202) 898-3673.
Financial Institution Letters (FILs) may be accessed from the FDIC's Web
site at www.fdic.gov/news/news/financial/2005/index.html.
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC FILs may be obtained through the FDIC's Public
Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434
(1-877-275-3342 or (703) 562-2200).