# FDIC FIL-24-2002: ANTI-MONEY LAUNDERING MEASURES

> Federal · Agency guidance · Superseded

URL: https://www.frixlaw.com/law-library/statutes/FDIC_FIL02024

## Section

- **Citation:** FDIC FIL-24-2002
- **Heading:** ANTI-MONEY LAUNDERING MEASURES
- **Jurisdiction:** Federal
- **Kind:** Agency guidance
- **Status:** Superseded
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** FDIC Financial Institution Letters / ANTI-MONEY LAUNDERING MEASURES

## Text

Monday,
March 4, 2002
Part III
Department of the
Treasury
31 CFR Part 103
Financial Crimes Enforcement Network;
Special Information Sharing Procedures
To Deter Money Laundering and Terrorist
Activity; Final Rule and Proposed Rule
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9874
Federal Register / Vol. 67, No. 42 / Monday, March 4, 2002 / Rules and Regulations
1 See 31 U.S.C. 5312(a)(2).
2 Treasury and FinCEN are proposing to apply
section 314(a) to all BSA financial institutions. See
the proposed rule implementing section 314(a)
published elsewhere in this issue of the Federal
Register.
3 See Act sections 314(b) and (c), which provide
protections from federal and State prohibitions on
the disclosure of information to financial
institutions that engage in information sharing
consistent with the requirements of section 314(b)
and its implementing regulations.
DEPARTMENT OF THE TREASURY
31 CFR Part 103
RIN 1506–AA26
Financial Crimes Enforcement
Network; Special Information Sharing
Procedures to Deter Money
Laundering and Terrorist Activity
AGENCY: Financial Crimes Enforcement
Network (FinCEN), Treasury.
ACTION: Interim rule.
SUMMARY: FinCEN, a bureau of the
Treasury Department, is issuing
regulations to implement the provision
in the Uniting and Strengthening
America by Providing Appropriate
Tools Required to Intercept and
Obstruct Terrorism (USA PATRIOT) Act
of 2001 that encourages information
sharing among financial institutions for
purposes of identifying and reporting
activities that may involve terrorist acts
or money laundering activities.
DATES: This rule is effective March 4,
2002.
FOR FURTHER INFORMATION CONTACT:
Judith R. Starr, Chief Counsel (FinCEN),
Providing Appropriate
Tools Required to Intercept and
Obstruct Terrorism (USA PATRIOT) Act
of 2001 that encourages information
sharing among financial institutions for
purposes of identifying and reporting
activities that may involve terrorist acts
or money laundering activities.
DATES: This rule is effective March 4,
2002.
FOR FURTHER INFORMATION CONTACT:
Judith R. Starr, Chief Counsel (FinCEN),
(703) 905–3590; William Langford,
Senior Counsel for Financial Crimes,
Office of the Assistant General Counsel
(Enforcement), (202) 622–1932; or Gary
W. Sutton, Senior Banking Counsel,
Office of the Assistant General Counsel
(Banking & Finance), (202) 622–1976
(not toll-free numbers). Financial
institutions with questions about their
coverage or compliance obligations
under this rule should contact their
appropriate federal regulator.
SUPPLEMENTARY INFORMATION:
I. Background
On October 26, 2001, the President
signed into law the USA PATRIOT Act
of 2001 (Public Law 107–56) (the Act).
Of the Act’s many goals, the facilitation
of information sharing among
governmental entities and financial
institutions for the purpose of
combating terrorism and money
laundering is of paramount importance.
Section 314 of the Act furthers this goal
by providing for the sharing of
information between the government
and financial institutions, and among
financial institutions themselves. As
with many other provisions of the Act,
Congress has charged Treasury with
developing regulations to implement
these information-sharing provisions.
Section 314(b) of the Act permits
financial institutions, upon providing
notice to Treasury, to share information
with one another in order to better
identify and report to the federal
government concerning activities that
may involve money laundering or
terrorist activities. This interim rule
implements section 314(b). The
Congress authorized financial
institutions to share information to
assist in the identification of suspected
terrorists and money launderers only
after providing notice to Treasury
rmation
with one another in order to better
identify and report to the federal
government concerning activities that
may involve money laundering or
terrorist activities. This interim rule
implements section 314(b). The
Congress authorized financial
institutions to share information to
assist in the identification of suspected
terrorists and money launderers only
after providing notice to Treasury. The
notice provision outlined below—a
yearly certification to FinCEN that
information will be shared and
protected from inappropriate
disclosure—combined with the
requirement that any money laundering
or terrorist activities uncovered be
reported to FinCEN or other law
enforcement, will allow for the sharing
of information while protecting the
privacy interests of customers of
financial institutions.
Published elsewhere in this issue of
the Federal Register is a notice of
proposed rulemaking that solicits
comments on proposed provisions that
are identical to this interim rule, as well
as proposed regulations to implement
the provisions of section 314(a) the Act,
which concerns enhanced cooperation
between financial institutions and
federal law enforcement agencies to
detect terrorist and money laundering
activities. Please refer to the notice of
proposed rulemaking for instructions for
submitting comments on the proposed
provisions that are identical to this
interim rule.
II. Analysis of the Interim Rule
A. General Definitions
Section 103.90—Definitions
As noted above, section 314(b) of the
Act permits financial institutions, upon
providing notice to Treasury, to share
information with one another in order to
identify and report to the federal
government activities that may involve
money laundering or terrorist activity.
Although section 314 does not define
‘‘money laundering’’ or ‘‘terrorist
activity,’’ each of these terms has well-
established definitions
ove, section 314(b) of the
Act permits financial institutions, upon
providing notice to Treasury, to share
information with one another in order to
identify and report to the federal
government activities that may involve
money laundering or terrorist activity.
Although section 314 does not define
‘‘money laundering’’ or ‘‘terrorist
activity,’’ each of these terms has well-
established definitions. Accordingly,
and consistent with the broad intent
underlying section 314(b), section
103.90(a) defines ‘‘money laundering’’
to mean any activity described in
section 1956 or 1957 of title 18, United
States Code. Similarly, section 103.90(b)
defines ‘‘terrorist activity’’ to mean an
act of domestic terrorism or
international terrorism as defined in
section 2331 of title 18, United States
Code.
B. Information Sharing Among
Financial Institutions
Section 103.110—Voluntary Information
Sharing Among Financial Institutions
The Act does not define the term
‘‘financial institution’’ for purposes of
the information sharing provisions of
314(b). Under the Bank Secrecy Act
(BSA), which is concerned with
information reporting to detect and
prevent financial crimes, the term
‘‘financial institution’’ is defined
broadly.1 Unlike section 314(a), which
involves financial institutions
responding to requests for information
from federal law enforcement agencies,2
section 314(b) involves the sharing of
information among financial institutions
and raises issues concerning
information privacy.3 For these reasons,
Treasury and FinCEN believe that it is
appropriate to define the term ‘‘financial
institution’’ for purposes of section
314(b) in a manner that is most likely to
further the identification of terrorist and
money laundering activities while
minimizing the likelihood that
information sharing will inappropriately
intrude on the privacy interests of the
customers of those institutions
r these reasons,
Treasury and FinCEN believe that it is
appropriate to define the term ‘‘financial
institution’’ for purposes of section
314(b) in a manner that is most likely to
further the identification of terrorist and
money laundering activities while
minimizing the likelihood that
information sharing will inappropriately
intrude on the privacy interests of the
customers of those institutions.
Accordingly, section 103.110(a)(2)
defines ‘‘financial institution’’ for
purposes of section 314(b) to mean (1)
a financial institution that is subject to
SAR reporting that is not a money
services business, which includes
banks, savings associations, and credit
unions; (2) a broker or dealer registered
with the Securities and Exchange
Commission under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.); (3) an issuer of traveler’s checks or
money orders, (4) a registered money
transmitter, or (5) an operator of a credit
card system that is not a money services
business. Treasury and FinCEN
specifically request comment, in
connection with the proposed rule
published elsewhere in this issue of the
Federal Register, concerning whether
these entities should be included within
the definition for purposes of section
314(b) of the Act and regulation section
103.110, and whether the definition
should be expanded to include other
categories of BSA financial institutions.
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e
Federal Register, concerning whether
these entities should be included within
the definition for purposes of section
314(b) of the Act and regulation section
103.110, and whether the definition
should be expanded to include other
categories of BSA financial institutions.
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Section 103.110(b) provides that upon
providing the appropriate certification
to Treasury, as described below, a
financial institution may share
information with other financial
institutions regarding individuals,
entities, organizations, and countries for
purposes of detecting, identifying, or
reporting activities that the financial
institution or association suspects may
involve money laundering or terrorist
activity. Because associations of such
financial institutions can enhance the
sharing of information among its
members, this section also permits these
associations to participate in the
information sharing process.
Prior to engaging in information
sharing, a financial institution or
association of financial institutions
must submit to FinCEN a certification
described in new Appendix B to 31 CFR
part 103, that confirms: the name of the
financial institution or association of
financial institutions; that the financial
institution is a financial institution as
defined in section 103.110(a), or in the
case of an association, that the
association’s members that intend to
engage in information sharing are
financial institutions as defined in
section 103.110(a); that the institution
or association will maintain adequate
procedures to protect the security and
confidentiality of such information; that
the institution or association will not
use any shared information for any
purpose other than as authorized in
section 103.110; and the identity of a
contact person at the financial
institution or association for matters
pertaining to in
in
section 103.110(a); that the institution
or association will maintain adequate
procedures to protect the security and
confidentiality of such information; that
the institution or association will not
use any shared information for any
purpose other than as authorized in
section 103.110; and the identity of a
contact person at the financial
institution or association for matters
pertaining to information sharing.
To streamline the certification
process, FinCEN has established a
special page on its existing Internet
website, http://www.treas.gov/fincen,
where financial institutions can enter
the appropriate information. If a
financial institution or association does
not have access to the Internet, the
certification may be mailed to FinCEN
at the address specified in the rule.
By requiring notice to Treasury before
information is shared among financial
institutions, Congress has injected
Treasury into what would otherwise be
a purely private communication. The
statute did not indicate clearly whether
prior notice to Treasury was required
before each individual communication
or whether a general notice would be
sufficient. After considering both the
need for flexibility for financial
institutions as well as the need to
ensure that the right to share
information under this section is not
being used improperly, Treasury and
FinCEN determined that the
certification should be effective for a
one-year period beginning on the date of
the certification. A re-certification,
provided to FinCEN in the same
manner, is required if a financial
institution or association intends to
continue to share information. An
annual certification will help Treasury
determine which financial institutions
are sharing information, and it will
reinforce the need for financial
institutions to protect information
shared under this section
the date of
the certification. A re-certification,
provided to FinCEN in the same
manner, is required if a financial
institution or association intends to
continue to share information. An
annual certification will help Treasury
determine which financial institutions
are sharing information, and it will
reinforce the need for financial
institutions to protect information
shared under this section. Treasury and
FinCEN balanced the minimal burden
associated with completing the brief
electronic or paper certification against
its role in protecting the privacy
interests of customers of financial
institutions.
Section 103.110(c) requires each
financial institution or association of
financial institutions that engages in the
sharing of information to maintain
adequate procedures to protect the
security and confidentiality of such
information. This section also provides
that information received by a financial
institution or association of financial
institutions pursuant to this section
shall only be used for identifying and
reporting on activities that may involve
terrorist or money laundering activities,
or determining whether to close or
maintain an account, or to engage in a
transaction. A financial institution that
fails to comply with these restrictions
on the use of shared information may
have its certification revoked or
suspended. See 103.110(g).
Section 103.110(d) provides that a
financial institution or association of
financial institutions that engages in the
sharing of information and that
complies with sections 103.110(b) and
in an account, or to engage in a
transaction. A financial institution that
fails to comply with these restrictions
on the use of shared information may
have its certification revoked or
suspended. See 103.110(g).
Section 103.110(d) provides that a
financial institution or association of
financial institutions that engages in the
sharing of information and that
complies with sections 103.110(b) and
(c) shall not be liable to any person
under any law or regulation of the
United States, under any constitution,
law, or regulation of any State or
political subdivision thereof, or under
any contract or other legally enforceable
agreement (including any arbitration
agreement), for such sharing, or for any
failure to provide notice of such sharing,
to an individual, entity, or organization
that is the subject of such sharing.
Section 103.110(e) provides a means
for financial institutions to voluntarily
report information to law enforcement
concerning suspicious transactions that
may relate to money laundering or
terrorist activity that may come to the
financial institution’s attention as a
result of discussions with other
financial institutions, or otherwise. In
order to accord the highest priority to
suspected terrorist activity, a financial
institution should report such
information to FinCEN by calling the
Financial Institutions Hotline (1–866–
556–3974). The purpose of the Financial
Institutions Hotline is to facilitate the
immediate transmittal of this
information to law enforcement.
Financial institutions identifying other
suspicious transactions should report
such transactions by promptly filing a
SAR in accordance with applicable
regulations, even if they provide
information over the Financial
Institutions Hotline. The Financial
Institutions Hotline is intended to
provide to law enforcement and other
authorized recipients of SAR
information the essence of the
suspicious activity in an expedited
fashion
fying other
suspicious transactions should report
such transactions by promptly filing a
SAR in accordance with applicable
regulations, even if they provide
information over the Financial
Institutions Hotline. The Financial
Institutions Hotline is intended to
provide to law enforcement and other
authorized recipients of SAR
information the essence of the
suspicious activity in an expedited
fashion. Use of the Financial
Institutions Hotline is voluntary and
does not affect an institution’s
responsibility to file a SAR in
accordance with applicable regulations.
Section 103.110(f) clarifies that
voluntary reporting under section
103.110 does not relieve a financial
institution from any obligation it may
have to file a Suspicious Activity Report
pursuant to a regulatory requirement, or
to otherwise directly contact a federal
agency concerning individuals, entities,
or organizations suspected of engaging
in money laundering or terrorist
activities.
Section 103.110(g) provides that a
federal regulator of a financial
institution, or FinCEN in the case of a
financial institution that does not have
a federal regulator, may revoke or
suspend a certification provided by a
financial institution under this section if
the regulator or FinCEN determines that
the financial institution has failed to
comply with the requirements of
paragraph (c) of this section. Treasury
and FinCEN believe this provision is
necessary to preclude further
participation in information sharing
under the authority of section 103.110
by a financial information that fails to
accord confidentiality to shared
information, or uses that information for
purposes other than as permitted by
section 103.110(c). A financial
institution with respect to which a
certification has been revoked or
suspended may not engage in
information sharing under this section
during the period of such revocation or
suspension.
III
rity of section 103.110
by a financial information that fails to
accord confidentiality to shared
information, or uses that information for
purposes other than as permitted by
section 103.110(c). A financial
institution with respect to which a
certification has been revoked or
suspended may not engage in
information sharing under this section
during the period of such revocation or
suspension.
III. Administrative Procedure Act
In Executive Order 13224 (September
23, 2001), the President found that the
continuing and immediate threat of
further attacks on the United States
constitutes an unusual and
extraordinary threat to the national
security, foreign policy, and economy of
the United States. The interim rule
implements statutory provisions
intended to prevent terrorist activity by
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uncovering and disrupting the financing
of terrorist acts. In light of the exigent
circumstances described in Executive
Order 13224, Treasury has determined,
pursuant to 5 U.S.C. 553(b), that it
would be contrary to the public interest
to delay the publication of this rule in
final form during the pendency of an
opportunity for public comment. For the
same reason, pursuant to 5 U.S.C.
553(d), it has been determined that there
is good cause for the interim rule to
become effective immediately upon
publication.
IV. Regulatory Flexibility Act
The provisions of the Regulatory
Flexibility Act, 5 U.S.C. 601 et seq., do
not apply to this interim rule because a
notice of proposed rulemaking is not
required under 5 U.S.C. 553 or any other
law.
V
For the
same reason, pursuant to 5 U.S.C.
553(d), it has been determined that there
is good cause for the interim rule to
become effective immediately upon
publication.
IV. Regulatory Flexibility Act
The provisions of the Regulatory
Flexibility Act, 5 U.S.C. 601 et seq., do
not apply to this interim rule because a
notice of proposed rulemaking is not
required under 5 U.S.C. 553 or any other
law.
V. Paperwork Reduction Act
The requirement in section
103.110(b)(2), concerning notification to
FinCEN that a financial institution that
intends to engage in information
sharing, and the accompanying
certification in Appendix B to 31 CFR
part 103, do not constitute a collection
of information for purposes of the
Paperwork Reduction Act. See 5 CFR
1320.3(h)(1).
The collection of information
contained in section 103.110(e),
concerning reports to the federal
government as a result of information
sharing among financial institutions,
will necessarily involve the reporting of
a subset of information currently
contained in a Suspicious Activity
Report (SAR). SAR reporting has been
previously reviewed and approved by
the Office of Management and Budget
(OMB) pursuant to the Paperwork
Reduction Act and assigned OMB
Control No. 1506–0001. An agency may
not conduct or sponsor, and a person is
not required to respond to, a collection
of information unless it displays a
currently valid OMB control number.
VI. Executive Order 12866
This interim rule is not a ‘‘significant
regulatory action’’ for purposes of
Executive Order 12866. Accordingly, a
regulatory assessment is not required.
List of Subjects in 31 CFR Part 103
Authority delegations (Government
agencies), Banks and banking, Currency,
Investigations, Law enforcement,
Reporting and recordkeeping
requirements.
Dated: February 26, 2002.
James F. Sloan,
Director, Financial Crimes Enforcement
Network
‘‘significant
regulatory action’’ for purposes of
Executive Order 12866. Accordingly, a
regulatory assessment is not required.
List of Subjects in 31 CFR Part 103
Authority delegations (Government
agencies), Banks and banking, Currency,
Investigations, Law enforcement,
Reporting and recordkeeping
requirements.
Dated: February 26, 2002.
James F. Sloan,
Director, Financial Crimes Enforcement
Network.
Authority and Issuance
For the reasons set forth in the
preamble, 31 CFR part 103 is amended
as follows:
PART 103—FINANCIAL
RECORDKEEPING AND REPORTING
OF CURRENCY AND FOREIGN
TRANSACTIONS
1. The authority citation for part 103
is revised to read as follows:
Authority: 12 U.S.C. 1829b and 1951–1959;
31 U.S.C. 5311–5331; title III, sec. 314, Pub.
L. 107–56, 115 Stat. 307.
2. Add new subpart H to part 103 to
read as follows:
Subpart H—Special Information Sharing
Procedures To Deter Money Laundering
and Terrorist Activity
Sec.
103.90
Definitions.
103.100
Information sharing with federal
law enforcement agencies. [Reserved]
103.110
Voluntary information sharing
among financial institutions.
Subpart H—Special Information
Sharing Procedures To Deter Money
Laundering and Terrorist Activity
§ 103.90
Definitions.
For purposes of this subpart, the
following definitions apply:
(a) Money laundering means an
activity described in 18 U.S.C. 1956 or
1957.
(b) Terrorist activity means an act of
domestic terrorism or international
terrorism as those terms are defined in
18 U.S.C. 2331.
§ 103.100
Information sharing with federal
law enforcement agencies. [Reserved]
§ 103.110
Voluntary information sharing
among financial institutions.
(a) Definitions. For purposes of this
section:
(1) The definitions in § 103.90 apply;
(2) The term financial institution
means any financial institution
described in 31 U.S.C. 5312(a)(2) that:
l
terrorism as those terms are defined in
18 U.S.C. 2331.
§ 103.100
Information sharing with federal
law enforcement agencies. [Reserved]
§ 103.110
Voluntary information sharing
among financial institutions.
(a) Definitions. For purposes of this
section:
(1) The definitions in § 103.90 apply;
(2) The term financial institution
means any financial institution
described in 31 U.S.C. 5312(a)(2) that:
(i) Is subject to a suspicious activity
reporting requirement of subpart B of
this part and is not a money services
business, as defined in § 103.11(uu);
(ii) Is a broker or dealer in securities,
as defined in § 103.11(f);
(iii) Is an issuer of traveler’s checks or
money orders, as defined in
§ 103.11(uu)(3);
(iv) Is a money transmitter, as defined
in § 103.11(uu)(5), and is required to
register as such pursuant to § 103.41; or
(v) Is an operator of a credit card
system and is not a money services
business, as defined in § 103.11(uu); and
(3) The term association of financial
institutions means a group or
organization the membership of which
is comprised entirely of financial
institutions as defined in paragraph
(a)(2) of this section.
(b) Information sharing among
financial institutions—(1) In general.
Subject to paragraphs (b)(2) and (g) of
this section, a financial institution or an
association of financial institutions may
engage in the sharing of information
with any other financial institution (as
defined in paragraph (a)(2) of this
section) or association of financial
institutions (as defined in paragraph (a)
(3) of this section) regarding
individuals, entities, organizations, and
countries for purposes of detecting,
identifying, or reporting activities that
the financial institution or association
suspects may involve possible money
laundering or terrorist activities.
(2) Notice requirement—(i)
Certification. A financial institution or
association of financial institutions that
intends to engage in the sharing of
information as described in paragraph
es, organizations, and
countries for purposes of detecting,
identifying, or reporting activities that
the financial institution or association
suspects may involve possible money
laundering or terrorist activities.
(2) Notice requirement—(i)
Certification. A financial institution or
association of financial institutions that
intends to engage in the sharing of
information as described in paragraph
(b)(1) of this section shall submit to
FinCEN a certification described in
Appendix B of this part.
(ii) Address. Completed certifications
may be submitted to FinCEN:
(A) By accessing FinCEN’s Internet
website, http://www.treas.gov/fincen,
and entering the appropriate
information as directed; or
(B) If a financial institution does not
have Internet access, by mail to:
FinCEN, PO Box 39, Mail Stop 100,
Vienna, VA 22183.
(iii) One year duration of certification.
Each certification provided pursuant to
paragraph (b)(2)(i) of this section shall
be effective for the one year period
beginning on the date of the
certification. In order to continue to
engage in the sharing of information
after the end of the one year period, a
financial institution or association of
financial institutions must submit a new
certification.
(c) Security and confidentiality of
information—(1) Procedures required.
Each financial institution or association
of financial institutions that engages in
the sharing of information pursuant to
this section shall maintain adequate
procedures to protect the security and
confidentiality of such information.
(2) Use of information. Information
received by a financial institution or
association of financial institutions
pursuant to this section shall not be
used for any purpose other than:
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(2) Use of information. Information
received by a financial institution or
association of financial institutions
pursuant to this section shall not be
used for any purpose other than:
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(i) Detecting, identifying and
reporting on activities that may involve
terrorist or money laundering activities;
or
(ii) Determining whether to establish
or maintain an account, or to engage in
a transaction.
(d) Safe harbor from certain liability—
(1) In general. A financial institution or
association of financial institutions that
engages in the sharing of information
pursuant to this section shall not be
liable to any person under any law or
regulation of the United States, under
any constitution, law, or regulation of
any State or political subdivision
thereof, or under any contract or other
legally enforceable agreement (including
any arbitration agreement), for such
sharing, or for any failure to provide
notice of such sharing, to an individual,
entity, or organization that is identified
in of such sharing.
(2) Limitation. Paragraph (d)(1) of this
section shall not apply to a financial
institution or association of financial
institutions to the extent such
institution or association fails to comply
with paragraph (b) or (c) of this section.
(e) Information sharing between
financial institutions and the federal
government—(1) Terrorist activity. If, as
a result of information sharing pursuant
to this section, a financial institution
suspects that an individual, entity, or
organization is involved in, or may be
involved in terrorist activity, such
information should be reported to
FinCEN:
mply
with paragraph (b) or (c) of this section.
(e) Information sharing between
financial institutions and the federal
government—(1) Terrorist activity. If, as
a result of information sharing pursuant
to this section, a financial institution
suspects that an individual, entity, or
organization is involved in, or may be
involved in terrorist activity, such
information should be reported to
FinCEN:
(i) By calling the toll-free Financial
Institutions Hotline (1–866–556–3974);
and
(ii) If appropriate, by filing a
Suspicious Activity Report pursuant to
subpart B of this part or other applicable
regulations.
(2) Money laundering. If as a result of
information sharing pursuant to this
section, a financial institution suspects
that an individual, entity, or
organization is involved in, or may be
involved in money laundering, such
information should generally be
reported by filing a Suspicious Activity
Report in accordance with subpart B of
this part or other applicable regulations.
If circumstances indicate a need for the
expedited reporting of this information,
a financial institution may use the
Financial Institutions Hotline (1–866–
556–3974).
(f) No limitation on financial
institution reporting obligations.
Nothing in this subpart affects the
obligation of a financial institution to
file a Suspicious Activity Report
pursuant to subpart B of this part or any
other applicable regulations, or to
otherwise directly contact a federal
agency concerning individuals or
entities suspected of engaging in money
laundering or terrorist activities.
(f) No limitation on financial
institution reporting obligations.
Nothing in this subpart affects the
obligation of a financial institution to
file a Suspicious Activity Report
pursuant to subpart B of this part or any
other applicable regulations, or to
otherwise directly contact a federal
agency concerning individuals or
entities suspected of engaging in money
laundering or terrorist activities.
(g) Revocation or suspension of
certification—(1) Authority of federal
regulator or FinCEN. Notwithstanding
any other provision of this section, a
federal regulator of a financial
institution, or FinCEN in the case of a
financial institution that does not have
a federal regulator, may revoke or
suspend a certification provided by a
financial institution pursuant to
paragraph (b)(2) of this section if the
concerned federal regulator or FinCEN,
as appropriate, determines that the
financial institution has failed to
comply with the requirements of
paragraph (c) of this section. Nothing in
this paragraph (g)(1) shall be construed
to affect the authority of any federal
regulator with respect to any financial
institution.
(2) Effect of revocation or suspension.
A financial institution with respect to
which a certification has been revoked
or suspended may not engage in
information sharing under the authority
of this section during the period of such
revocation or suspension.
3. The Appendix to part 103 is
redesignated as Appendix A to part 103
and the heading is revised to read as
follows:
Appendix A to Part 103—
Administrative Rulings
*
*
*
*
*
4. Appendix B is added to part 103 to
read as follows:
Appendix B to Part 103—Certification
for Purposes of Section 314(b) of the
USA Patriot Act and 31 CFR 103.110
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ised to read as
follows:
Appendix A to Part 103—
Administrative Rulings
*
*
*
*
*
4. Appendix B is added to part 103 to
read as follows:
Appendix B to Part 103—Certification
for Purposes of Section 314(b) of the
USA Patriot Act and 31 CFR 103.110
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9878
Federal Register / Vol. 67, No. 42 / Monday, March 4, 2002 / Rules and Regulations
[FR Doc. 02–5006 Filed 3–1–02; 8:45 am]
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## Nearby sections

- [FDIC FIL-1-2002 FOREIGN ASSETS CONTROL ACT](https://www.frixlaw.com/law-library/statutes/FDIC_FIL02001.md)
- [FDIC FIL-1-2010 Employee Compensation Advance Notice of Proposed Rulemaking](https://www.frixlaw.com/law-library/statutes/FDIC_FIL10001.md)
- [FDIC FIL-1-2024 Consolidated Reports of Condition and Income for Fourth Quarter 2023](https://www.frixlaw.com/law-library/statutes/FDIC_FIL24001.md)
- [FDIC FIL-2-2004 Foreign Assets Control Act](https://www.frixlaw.com/law-library/statutes/FDIC_FIL04002.md)
- [FDIC FIL-2-2020 Consolidated Reports of Condition and Income for Fourth Quarter 2019](https://www.frixlaw.com/law-library/statutes/FDIC_FIL20002.md)
- [FDIC FIL-3-2003 FILING PROCEDURES](https://www.frixlaw.com/law-library/statutes/FDIC_FIL03003.md)
- [FDIC FIL-4-2006 Commercial Real Estate Lending Proposed Interagency Guidance](https://www.frixlaw.com/law-library/statutes/FDIC_FIL06004.md)
- [FDIC FIL-4-2021 Revised Guidelines for Appeals of Material Supervisory Determinations](https://www.frixlaw.com/law-library/statutes/FDIC_FIL21004.md)
- [FDIC FIL-4-2023 Guidance to Help Financial Institutions and Facilitate Recovery in Areas of California Affected by Severe Winter Storms, Flooding, Landslides and Mudslides](https://www.frixlaw.com/law-library/statutes/FDIC_FIL23004.md)
- [FDIC FIL-4-2025 FDIC Statement of Policy on Bank Merger Transactions](https://www.frixlaw.com/law-library/statutes/FDIC_FIL25004.md)
- [FDIC FIL-5-2000 Consumer Credit Reporting Practices](https://www.frixlaw.com/law-library/statutes/FDIC_FIL00005.md)
- [FDIC FIL-5-2003 LETTER TO STAKEHOLDERS](https://www.frixlaw.com/law-library/statutes/FDIC_FIL03005.md)
- [FDIC FIL-5-2021 Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering (AML) Considerations](https://www.frixlaw.com/law-library/statutes/FDIC_FIL21005.md)
- [FDIC FIL-6-2000 Special Alert](https://www.frixlaw.com/law-library/statutes/FDIC_FIL00006.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/FDIC_FIL02024. Check the current official text before relying on it. Not legal advice.