Regulatory Alerts2002-04-01 | FinCEN Advisory - Issue 28Added
Transactions Involving Burma (Myanmar) (FinCEN Advisory - Issue 28)
Banks and other financial institutions operating in the United States are advised to give enhanced scrutiny to all financial transactions originating in, routed to, or through Burma, or involving entities or persons in Burma. The advisory directs institutions subject to suspicious transaction reporting rules under 31 C.F.R. Part 103 to examine available facts to determine if reporting is required, and extends safe harbor protections under 31 U.S.C. 5318(g)(2) and (g)(3) to reports relating to such transactions. This guidance does not require U.S. financial institutions to curtail legitimate business with Burma.
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