)
or https:// means you’ve safely connected to
the .gov website. Share sensitive information only on official,
secure websites.
02-RA-02
/
April 2002
Patriot Act Regulation to Improve Information Sharing
Subject
BSA/AML
To
All Federally-Insured Credit Unions
Status
Active
The Department of the Treasury recently announced the issuance of an interim final regulation implementing a provision of the USA PATRIOT Act. It was published in the Federal Register on March 4, 2002.
The interim final regulation, effective March 4, 2002, permits certain financial institutions to share information amongst themselves for the purpose of identifying and reporting suspected terrorism and money laundering. Financial institutions must notify Treasury’s Financial Crimes Enforcement Network (FinCEN) of their intent to share information and ensure adequate steps to maintain confidentiality.
Enclosed is the interim final regulation.
Sincerely,
/S/
Dennis Dollar
Chairman