(1) Financial institution means any financial
institution described in 31 U.S.C. 5312(a)(2).
(2) Law enforcement agency means a Federal,
State, local, or foreign law enforcement agency with criminal investigative
authority, provided that in the case of a foreign law enforcement
agency, such agency is from a jurisdiction that is a party to a treaty
that provides, or in the determination of FinCEN is from a
jurisdiction that otherwise allows, law enforcement agencies in the
United States reciprocal access to information comparable to that
obtained under this section.
(1) In general. A law enforcement agency investigating terrorist activity or money
laundering may request that FinCEN solicit, on the investigating agency’s
behalf, certain information from a financial institution or a group
of financial institutions. When submitting such a request to FinCEN,
the law enforcement agency shall provide FinCEN with a written certification,
in such form and manner as FinCEN may prescribe. At a minimum, such
certification must: State that each individual, entity, or organization
about which the law enforcement agency is seeking information is engaged
in, or is reasonably suspected based on credible evidence of engaging
in, terrorist activity or money laundering; include enough specific
identifiers, such as date of birth, address, and social security number,
that would permit a financial institution to differentiate between
common or similar names; and identify one person at the agency who
can be contacted with any questions relating to its request. Upon
receiving the requisite certification from the requesting law enforcement
agency, FinCEN may require any financial institution to search its
records to determine whether the financial institution maintains or
has maintained accounts for, or has engaged in transactions with,
any specified individual, entity, or organization.
(2) Requests
from FinCEN. FinCEN may solicit, on its own behalf and on behalf
of appropriate components of the Department of the Treasury, whether
a financial institution or a group of financial institutions maintains
or has maintained accounts for, or has engaged in transactions with,
any specified individual, entity, or organization. Before an information
request under this section is made to a financial institution, FinCEN
or the appropriate Treasury component shall certify in writing in
the same manner as a requesting law enforcement agency that each individual,
entity or organization about which FinCEN or the appropriate Treasury
component is seeking information is engaged in, or is reasonably suspected
based on credible evidence of engaging in, terrorist activity or money
laundering. The certification also must include enough specific identifiers,
such as date of birth, address, and social security number, that would
permit a financial institution to differentiate between common or
similar names, and identify one person at FinCEN or the appropriate
Treasury component who can be contacted with any questions relating
to its request.
3-1704.31
(3) Obligations of a financial institution
receiving an information request—
(i) Record
search. Upon receiving an information request from FinCEN under
this section, a financial institution shall expeditiously search its
records to determine whether it maintains or has maintained any account
for, or has engaged in any transaction with, each individual, entity,
or organization named in FinCEN’s request. A financial institution
may contact the law enforcement agency, FinCEN or requesting Treasury
component representative, or U.S. law enforcement attache in the case
of a request by a foreign law enforcement agency, which has been named
in the information request provided to the institution by FinCEN with
any questions relating to the scope or terms of the request. Except
as otherwise provided in the information request, a financial institution
shall only be required to search its records for:
(A) Any current account maintained for
a named suspect;
(B) Any account maintained
for a named suspect during the preceding twelve months; and
(C) Any transaction, as defined by section
1010.505(d), conducted by or on behalf of a named suspect, or any
transmittal of funds conducted in which a named suspect was either
the transmittor or the recipient, during the preceding six months
that is required under law or regulation to be recorded by
the financial institution or is recorded and maintained electronically
by the institution.
(ii) Report to FinCEN. If a financial
institution identifies an account or transaction identified with any
individual, entity, or organization named in a request from FinCEN,
it shall report to FinCEN, in the manner and in the time frame specified
in FinCEN’s request, the following information:
(A) The name of such individual, entity,
or organization;
(B) The number of
each such account, or in the case of a transaction, the date and type
of each such transaction; and
(C) Any
Social Security number, taxpayer identification number, passport number,
date of birth, address, or other similar identifying information provided
by the individual, entity, or organization when each such account
was opened or each such transaction was conducted.
(iii) Designation of contact person. Upon receiving an information
request under this section, a financial institution shall designate
one person to be the point of contact at the institution regarding
the request and to receive similar requests for information from FinCEN
in the future. When requested by FinCEN, a financial institution shall
provide FinCEN with the name, title, mailing address, e-mail address,
telephone number, and facsimile number of such person, in such manner
as FinCEN may prescribe. A financial institution that has provided
FinCEN with contact information must promptly notify FinCEN of any
changes to such information.
3-1704.32
(iv) Use and
security of information request.
(A) A financial institution shall not use
information provided by FinCEN pursuant to this section for any purpose
other than:
(1) Reporting to FinCEN as provided
in this section;
(2) Determining
whether to establish or maintain an account, or to engage in a transaction;
or
(3) Assisting the financial
institution in complying with any requirement of this chapter.
(B)
(1)
A financial institution shall not disclose to any person, other than
FinCEN or the requesting Treasury component, the law enforcement agency
on whose behalf FinCEN is requesting information, or U.S. law enforcement
attache in the case of a request by a foreign law enforcement agency,
which has been named in the information request, the fact that FinCEN
has requested or has obtained information under this section, except
to the extent necessary to comply with such an information request.
(2) Notwithstanding paragraph
(b)(3)(iv)(B)(1) of this section, a financial institution authorized
to share information under section 1010.540 may share information
concerning an individual, entity, or organization named in a request
from FinCEN in accordance with the requirements of such section. However,
such sharing shall not disclose the fact that FinCEN has requested
information concerning such individual, entity, or organization.
(C) Each financial institution
shall maintain adequate procedures to protect the security and confidentiality
of requests from FinCEN for information under this section. The requirements
of this paragraph (b)(3)(iv)(C) shall be deemed satisfied to the extent
that a financial institution applies to such information procedures
that the institution has established to satisfy the requirements of
section 501 of the Gramm-Leach-Bliley Act (15 U.S.C. 6801), and applicable
regulations issued thereunder, with regard to the protection of its
customers’ nonpublic personal information.
(v) No other
action required. Nothing in this section shall be construed to
require a financial institution to take any action, or to decline
to take any action, with respect to an account established for, or
a transaction engaged in with, an individual, entity, or organization
named in a request from FinCEN, or to decline to establish an account
for, or to engage in a transaction with, any such individual, entity,
or organization. Except as otherwise provided in an information request
under this section, such a request shall not require a financial institution
to report on future account opening activity or transactions or to
treat a suspect list received under this section as a government list
for purposes of section 326 of Public Law 107-56.
3-1704.33
(4) Relation
to the Right to Financial Privacy Act and the Gramm-Leach-Bliley Act. The information that a financial institution is required to report
pursuant to paragraph (b)(3)(ii) of this section is information required
to be reported in accordance with a Federal statute or rule promulgated
thereunder, for purposes of subsection 3413(d) of the Right to Financial
Privacy Act (12 U.S.C. 3413(d)) and subsection 502(e)(8) of the Gramm-Leach-Bliley
Act (15 U.S.C. 6802(e)(8)).
(5) No effect on law enforcement or regulatory investigations. Nothing in this subpart affects the authority of a Federal, State,
or local law enforcement agency or officer, or FinCEN or another component
of the Department of the Treasury, to obtain information directly
from a financial institution.
