Receiving a 314a List Request from FinCEN
Every two weeks, financial institutions across the US receive a 314a list from FinCEN.
The 314a list contains the names and address of certain persons, businesses or organizations that are involves in or suspected to be involved in money laundering, terrorist financing, or other criminal activities.
Image Source: Responding to 314a List from FinCEN
What is the Deadline / Timeline for Responding to 314a List from FinCEN?
Financial institutions are required to respond to a FinCEN 314a list request within 2 weeks. The 2-week deadline starts from the posting date of the 314a request.
The 2-week timeline is only applicable in the event of a positive match. If the search does not uncover any positive matches, financial firms are instructed not to reply to the 314(a) request.
314(a) requests – What to search for
Upon receiving the 314(a) list, financial institutions are required to review their records for possible matches as follows:
- Search accounts that have been opened / active / maintained during the preceding 12 months
- Search all transactions that have been conducted within the last 6 months.
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