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TREAS/FINCEN RIN: 1506-AB09 Publication ID: Fall 2010 
Title: ●Amendment to the Bank Secrecy Act Regulations; Anti-Money Laundering Programs; Special Due Diligence Programs for Certain Foreign Accounts 
Abstract: FinCEN is issuing this interim final rule to amend 31 CFR 103.176- Due diligence programs for correspondent accounts for foreign financial institutions- to incorporate additional relevant factors for a covered financial institution to consider when assessing the money laundering risks presented by correspondent accounts for foreign financial institutions. The incorporation of these additional relevant factors is a result of a congressional mandate to prescribe regulations under the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010. Consequently, this amendment is clarifying that as part of their due diligence programs, covered financial institutions need to take reasonable steps to determine whether the Secretary of the Treasury has found that a foreign financial institution, for which they maintain a correspondent account, is knowingly engaging in prohibited Iranian activities as described in the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, PL 111-195, 124 Stat. 1312 (2010)   
Legal Deadline:
Action Source Description Date
Final  Statutory  90 Days From Issuance of Statute  nulldate 
Timetable:
Action Date FR Cite
Interim Final Rule  12/00/2010    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Russell G. Stephenson
Senior Program Manager, Policy Division
Department of the Treasury
Financial Crimes Enforcement Network
1801 L Street NW.,
Washington, DC 20036
Phone:202 354-6012
Fax:202 354-6411
Email: russell.stephenson@fincen.gov