Regulatory Alerts2004-06-16
Added
Statement of Policy on Accepting Accounts From Foreign Governments, Foreign Embassies and Foreign Political Figures
The United States Department of the Treasury affirms that financial institutions may provide banking services to the embassies and interests sections of foreign governments and their staffs while complying with the Bank Secrecy Act as amended by the USA PATRIOT Act. This policy asserts that providing such services fulfills the needs of foreign governments without conflicting with obligations to safeguard the financial system from money laundering and illicit finance.