Bank Secrecy Act Banco Delta Asia Sarl - Designation of Primary Money Laundering Concern
FIL-30-2007 April 2, 2007
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.
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.
FDIC-Supervised Banks (Commercial and Savings)