The purpose of this Regulatory Alert is to notify CUs of the December 2004 publication of interpretive guidance by the Financial Crimes Enforcement Network (FinCEN). This guidance clarifies when a suspicious activity report should be filed on a transaction that is blocked due to the SDN list published by the Office of Foreign Assets Control (OFAC).
NCUA: Regulatory Alert No. 05-RA-02: Suspicious Activity Reports on OFAC Blocked Transactions (January 2005)
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