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TREAS/FINCEN RIN: 1506-AB38 Publication ID: Fall 2017 
Title: ●USA Patriot Act Section 311 Special Measures Action Bank of Dandong 
Abstract:

The Director of FinCEN found that the Bank of Dandong is a foreign financial institution of primary money laundering concern. FinCEN is issuing this Notice of Proposed Rulemaking (NPRM) to propose to prohibit covered financial institutions from opening or maintaining a correspondent account in the United States for, or on behalf of, the foreign financial institution and to prohibit the use of foreign banking institutions’ correspondent accounts to process transactions involving the foreign financial institution.

 

 
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: Undetermined  Unfunded Mandates: No 
EO 13771 Designation: Fully or Partially Exempt 
CFR Citation: 31 CFR 1010.660(b)   
Legal Authority: 31 U.S.C. 5318   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  07/07/2017  82 FR 31537   
NPRM Comment Period End  09/05/2017 
Final Action  04/00/2018 
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:
Lawrence Scheinert
Enforcement Officer
Department of the Treasury
Financial Crimes Enforcement Network
1801 L Street NW.,
Washington, DC 20036
Phone:202 354-6386
Email: lawrence.scheinert@fincen.gov