AL 2003-6 	
OCC ADVISORY LETTER	

Subject:  U.S. Department of Treasury FinCEN Advisory 27W 
 
Date:     July 29, 2003

TO:  Chief Executive Officers and Compliance Officers of National 
Banks and Federal Branches, Department and Division Heads, and 
Examining Personnel

This advisory letter revises the list of countries detailed in OCC 
Advisory Letter (AL) 2003-5, “U.S. Department of Treasury FinCEN 
advisory 2W,” dated June 24, 2003 (see also AL 2003-4, AL 2002-10, 
AL 2002-7, AL 2002-5, AL 2002-2, AL 2001-7, and AL 2000-8). 

In July 2000, the U.S. Department of the Treasury’s Financial Crimes 
Enforcement Network (FinCEN) issued a series of advisories 
identifying 15 countries with serious deficiencies in their counter-
money-laundering systems.   Since then, FinCEN has issued additional 
advisories eliminating or revising some of those original advisories.

The attached FinCEN advisory 27W withdraws FinCEN advisory 27, 
issued July 2000, regarding the jurisdiction of St. Vincent and the 
Grenadines.  Enhanced scrutiny of transactions with this 
jurisdiction is no longer necessary due to the enactment of 
significant reforms to its counter-money-laundering systems and the 
concrete steps taken to bring these reforms into effect. The FinCEN 
advisory is consistent with the June 20, 2003, Financial Action Task 
Force on Money Laundering decision to remove St. Vincent and the 
Grenadines from its list of countries that are noncooperative in the 
fight against money laundering.

FinCEN advisories remain in effect for the following jurisdictions:

·  The Arab Republic of Egypt,
·  Burma,
·  The Cook Islands,
·  The Federal Republic of Nigeria,
·  Nauru,
·  The Philippines, and
·  Ukraine.

The FinCEN advisories on the above jurisdictions emphasize the need 
for enhanced scrutiny of certain transactions and banking 
relationships in these jurisdictions to ensure that appropriate 
measures are taken to minimize risk for money laundering.  Please 
refer to OCC AL 2000-8 for additional information on banking 
relationships in the subject jurisdictions.  Also, refer to the Bank 
Secrecy Act/Anti-Money Laundering booklet in the Comptroller’s 
Handbook and OCC advisory letter, AL 2000-3, for guidance on 
controlling risk of money laundering.  Copies of the booklet and the 
OCC advisory letters are available at www.occ.treas.gov/handbook/bsa.pdf and www.occ.treas.gov/issue.htm.

If you have any questions please contact your supervisory office or 
the Compliance Division at (202) 874-4428.


__________________
David G. Hammaker
Deputy Comptroller for Compliance

Attachment: FinCEN Advisory 27W
[ http://www.occ.treas.gov/ftp/2003-6a.pdf ], or
[ http://www.fincen.gov/pub_main.html ]