Use of Large-Value Funds Transfers for Money Laundering; Rescission of Policy Statement

摘要

As part of the FDIC's systematic review of its regulations and written policies under section 303(a) of the Riegle Community Development and Regulatory Improvement Act of 1994 (CDRI), the FDIC is rescinding its adoption of the policy statement (Statement) concerning the problem of the use of large-value funds transfers for money laundering. The Statement recommends that banks obtain and maintain certain records with respect to funds transfers sent or received in the normal course of business. The FDIC is rescinding the adoption of the Statement because it was replaced by an amendment to the Bank Secrecy Act regulations.