Code of Federal Regulations · Section
§ 353.1 — Purpose And Scope
12 C.F.R. § 353.1
View:
The purpose of this part is to ensure that an 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 FDIC supervised institutions.
Authorizing Statute
-
Termination of status as insured depository institution12 U.S.C. § 1818
-
Compliance, exemptions, and summons authority31 U.S.C. § 5318