U.S. Issues Guidance on Transactions Involving Proceeds of Foreign Official Corruption

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Thursday, March 1, 2001

Author:

Bruce Zagaris

Volume:

17

Issue:

3

126

Abstract:

On January 16, 2001, the U.S. Department of Treasury, the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, and the Department of State announced the issuance of new guidance to help U.S. financial institutions avoid transactions that may involve the proceeds of foreign official corruption…[more]