Regulatory Alerts2025-09-25 | SR 25-3SR 25-3: Imposition of Special Measures by FinCEN
The Federal Reserve Board issued SR 25-3 to advise supervised financial institutions of special measures imposed by FinCEN under the USA PATRIOT Act and related legislation. The letter outlines six specific authorities allowing FinCEN to require record-keeping, beneficial ownership verification, and prohibitions on correspondent accounts or fund transmittals for entities of primary money laundering concern. Institutions are directed to consult FinCEN's specific rulemakings or orders to determine the exact obligations applicable to designated jurisdictions or entities.
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