[17907]
August 18, 2004
TO: MONEY LAUNDERING RULES WORKING GROUP No. 27-04
RE: FINCEN PUBLISHES SECTION 314(A) FACT SHEET
Last week, the Financial Crimes Enforcement Network published a “fact sheet” relating
to Section 314(a) of the USA PATRIOT Act. Rules adopted pursuant to Section 314(a) allow law
enforcement authorities to request information from financial institutions regarding
individuals, entities, and organizations engaged in or reasonably suspected of engaging in
terrorist acts or money laundering activities.
The 314(a) fact sheet summarizes the 314(a) process, the criteria used by law
enforcement, and the results of 314(a) requests to date. As a result, members of the Working
Group tasked with 314(a) compliance may find the information contained in the fact sheet to be
useful.
To obtain a copy of the fact sheet, visit FinCEN’s web site at
http://www.fincen.gov/314afactsheet08032004.pdf.
Robert C. Grohowski
Associate Counsel