Section 311 establishes a process for the Secretary of the Treasury to follow, and identifies federal agencies to consult, before the Secretary of the Treasury may conclude that a jurisdiction, financial institution, class of transactions, or type of account is of primary money laundering concern.

What is the 311 special measures list?

Section 311 establishes a process for the Secretary of the Treasury to follow, and identifies federal agencies to consult, before the Secretary of the Treasury may conclude that a jurisdiction, financial institution, class of transactions, or type of account is of primary money laundering concern.

What is a 311 action?

Section 311 of the USA PATRIOT Act provides the Secretary with a range of options that can be adapted to target specific money laundering and terrorist financing risks most effectively.

How do I access my FinCEN?

User support is available via the FinCEN Application Service Desk at either 866-346-9478 or 703-905- 3772 (Monday– Friday from 6:30 am–7:00 pm Eastern Time).

What is meant by Shell Bank?

Shell bank means a bank that has no physical presence in the country in which it is incorporated and licensed, and which is unaffiliated with a regulated financial group that is subject to effective consolidated supervision.

What is a risk of concentration accounts?

Risk Factors Money laundering risk can arise in concentration accounts if the customer-identifying information, such as name, transaction amount, and account number, is separated from the financial transaction. If separation occurs, the audit trail is lost, and accounts may be misused or administered improperly.

What do you do with a 314 match?

314(a) Secure Information Sharing System.

  1. If a positive match exists, the credit union is required to promptly report it via the SISS to FinCEN.
  2. Credit unions are not prohibited from providing the 314(a) subject lists to a third-party service provider or vendor to perform or facilitate record searches.

What is 311 designated entity?

Section 311 designated FIs foreign jurisdiction, institution, class of transaction, or type of account is of “primary money laundering concern,” to require domestic financial institutions and financial agencies to take certain “special measures” against the entity of primary money laundering concern.

How do you call KCMO 311?

Contact 311 to report a problem, request a service, or ask a question about a city service….How to report a new 311 request or check status of existing request:

  1. Report a problem using the myKCMO app. (App Store | Google Play | Web)
  2. Call 311 or (816) 513-1313.
  3. Twitter: Follow @KCMO311.

How do I renew my FinCEN?

After an MSB completes its initial registration, the form to renew its registration must be filed by December 31 of the second calendar year preceding the 24-month renewal period and is accomplished by filing the Registration of Money Services Business Form, FinCEN Form 107.

What is FinCEN number?

1-800-767-2825
Please direct all inquiries to the FinCEN Resource Center by calling 1-800-767-2825 or (703) 905-3591 or by emailing your inquiry to [email protected].