ANTI-MONEY LAUNDERING MEASURES: Final Rule on Customer Identification Programs

Details

• Publisher's site:
  https://www.fdic.gov/
• Corporate Authors:
  Federal Deposit Insurance Corporation (FDIC)
• Description:
  The Department of the Treasury and the federal banking, thrift and credit union regulatory agencies have jointly issued a final rule to implement Section 326 of the USA PATRIOT Act. This section requires financial institutions to implement a customer identification program to verify the identity of customers opening new accounts.
• Subject:
  BSA/AML, OFAC and Fraud
• Dataset Download URL:
  https://www.fdic.gov/news/financial-institution-letters/2003/fil0342.html
• Format:
  PDF
• Release Date:
  05/27/2003
• Update Date:
  11/13/2018
• Withdrawn Date:
  12/01/2018
• Agencies Involved:
  Federal Deposit Insurance Corporation (FDIC) ; U.S. Department of the Treasury ; Financial Crimes Enforcement Network (FinCEN) ; Board of Governors of the Federal Reserve System (The Fed) ; Office of the Comptroller of the Currency (OCC) ; Office of Thrift Supervision (OTS) ; National Credit Union Administration (NCUA)
• Fdic Employee Involved:
  Michael J. Zamorski
• Law Involved:
  Bank Secrecy Act ; USA PATRIOT Act of 2001, section 326
• Related Regulation:
  12 CFR Part 326 ; Bank Secrecy Act regulations, section 103.121 – "Customer Identification Programs for Banks, Savings Associations, and Credit Unions"
• Source:
  FDIC Website
• Memorandum To:
  FDIC-Supervised Banks (Commercial and Savings)
• Effective Date:
  06/09/2003
• FIL Number:
  FIL-42-2003
• Main Document Checksum:
  urn:sha256:658d60f1fb3215da37ff678e014055aec3c3f14dd91388e83b9f9fec99d01954
• Download URL:
  https://archive.fdic.gov/view/fdic/8552/fdic_8552_DS1.pdf
• File Type:
  [PDF - 710.44 KB ]