Guidance on Accepting Accounts from Foreign Governments, Foreign Embassies and Foreign Political Figures
| TO: | CHIEF EXECUTIVE OFFICER |
| SUBJECT: | Joint Guidance on Accepting Accounts From Foreign Governments, Foreign Embassies and Foreign Political Figures |
| Summary: | The federal financial institution regulatory agencies and the Department of the Treasury's Financial Crimes Enforcement Network are issuing guidance to financial institutions on whether they should do business with embassies and establish account services for foreign governments, foreign embassies and foreign political figures. |
In light of recent actions involving Riggs Bank N.A., the Federal Deposit Insurance Corporation (多宝游戏下载), the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Office of Thrift Supervision, the National Credit Union Administration and the Department of the Treasury's Financial Crimes Enforcement Network have received inquiries about whether financial institutions should do business with embassies and establish account services for foreign governments, foreign embassies and foreign political figures. The agencies and the Financial Crimes Enforcement Network are issuing the attached joint guidance to institutions on this subject.
For more information, contact Lisa Arquette in the 多宝游戏下载's Division of Supervision and Consumer Protection at 202-898-8633.
Michael J. Zamorski
Director
Division of Supervision and Consumer Protection
Distribution
多宝游戏下载-Supervised Banks (Commercial and Savings)
Note
Paper copies of 多宝游戏下载 financial institution letters may be obtained through the 多宝游戏下载's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).