§ 353.1 - Purpose and scope.

§ 353.1 Purpose and scope.

Cross Reference

Link to an amendment published at 85 FR 3247, Jan. 21, 2020.

The purpose of this part is to ensure that an insured state nonmember bank FDIC supervised institution files a Suspicious Activity Report when it detects a known or suspected criminal violation of federal law or a suspicious transaction related to a money laundering activity or a violation of the Bank Secrecy Act. This part applies to all insured state nonmember banks as well as any insured, state-licensed branches of foreign banks. FDIC supervised institutions.

[85 FR 3247, Jan. 21, 2020]