Data / Federal rules / 2024-14415

Imposition of Special Measure Regarding Al-Huda Bank as a Financial Institution of Primary Money Laundering Concern

The Financial Crimes Enforcement Network published this final rule in the Federal Register on July 3, 2024. It took effect on August 2, 2024.

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What the agency says

FinCEN is issuing this final rule to prohibit covered U.S. financial institutions from opening or maintaining a correspondent account for, or on behalf of Al-Huda Bank, a foreign financial institution based in Iraq found to be of primary money laundering concern pursuant to section 311 of the USA PATRIOT Act. The rule further requires covered U.S. financial institutions to take reasonable steps not to process transactions for the correspondent account of a foreign banking institution in the United States if such a transaction involves Al-Huda Bank. It also requires covered institutions to apply special due diligence to their foreign correspondent accounts that is reasonably designed to guard against their use to process transactions involving Al-Huda Bank.

Key facts

Document number: 2024-14415
Type: Final rule
Action: Final rule
Agency: Treasury Department; Financial Crimes Enforcement Network
Published: July 3, 2024
Takes effect: August 2, 2024
Dates: This final rule is effective August 2, 2024.
Regulation ID (RIN): 1506-AB65
Code of Federal Regulations: 31 CFR 1010
Topics: Administrative practice and procedure; Banks, banking; Brokers; Crime; Foreign banking; Terrorism
Significant: Yes, under Executive Order 12866
Pages: 9

The document on federalregister.gov PDF

Other documents from the Financial Crimes Enforcement Network

Document	Type	Published
Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets; Withdrawal 2026-20430 · significant	Proposed rule	Oct 6
Proposal of Special Measure Regarding Convertible Virtual Currency Mixing, as a Class of Transactions of Primary Money Laundering Concern; Withdrawal 2026-20429 · significant	Proposed rule	Oct 6
Proposal of Special Measure Prohibiting the Transmittal of Funds Regarding Transactions Involving the A7 Network's Sub-Agents 2026-20371	Proposed rule	Oct 5
Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Money Services Businesses Along the Southwest Border 2026-18194	Final rule	Sep 4
Proposal of Special Measure Regarding Banque Misr UAE as a Financial Institution Operating Outside of the United States of Primary Money Laundering Concern 2026-17871	Proposed rule	Sep 1
Beneficial Ownership Information Reporting Requirement Revision 2026-16576 · significant	Final rule	Aug 14
Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Financial Institutions in Minnesota 2026-16365	Final rule	Aug 11
Proposed Amendment to the Definition of Huione Group, a Financial Institution Operating Outside the United States of Primary Money Laundering Concern; Extension of Comment Period 2026-15030	Proposed rule	Jul 24

Everything from the Financial Crimes Enforcement Network · Rules on administrative practice and procedure · Rules on banks, banking · Rules on brokers · Published in July 2024

Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.