Combating Money Laundering and Terrorist Financing:
BSA Enforcement Policies and Actions
OCC Enforcement Action Policy - The OCC uses informal and formal
enforcement actions to ensure national banks' compliance with the BSA. Informal
actions are used when identified problems are of limited scope and magnitude
and bank management is regarded as committed and capable of correcting them.
Formal actions, in the form of a Cease and Desist Order are required whenever a
bank fails to establish and maintain a BSA compliance program, as required by
12 CFR 21.21, or fails to correct any problem with its BSA compliance program
which was previously cited in a report of examination or other supervisory
correspondence. OCC's enforcement policies are detailed in
OCC 2007-36.
Notices of Formal Enforcement -
The OCC is required by 12 USC 1818(u) to publicly disclose certain types of
agency actions. Once a month, the OCC's Communications Division publishes a
list of formal enforcement actions that includes the name of the person or bank
involved, the type of action, and the date of the action. The enforcement
actions are posted and available.
Information Sharing with FinCEN - Under a memorandum of understanding between
the U.S. banking agencies and the U.S. Department of Treasury's Financial
Crimes Enforcement Network (FinCEN), the OCC will share with FinCEN it's BSA
policies, procedures and exam violations or deficiencies
Additional Guidance
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OCC Bulletin 2005-45 - Bank Secrecy
Act/Anti-Money Laundering: Process for Taking Administrative Enforcement
Actions Against Banks Based on BSA Violations
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OCC Bulletin 2006-11 - Bank Secrecy
Act/Anti-Money Laundering: OFAC--Economic Sanctions Enforcement Procedures for
Banking Institutions
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