Compliance with 31 CFR Chapter V with Respect to Fully-Automated Financial Transactions
Rule published June 30, 1995 · 60 FR 34142
- Document number
- FR Doc. 95-16121
- Type
- Rule
- Published
- June 30, 1995
- Citation
- 60 FR 34142 (pages 34,142–34,143)
- Action
- Policy Statement.
- Dates
- September 1, 1995.
- Official sources
- PDF (govinfo.gov) · federalregister.gov
Summary
The Federal Register's summaryDue to the wide availability and use by financial institutions of name-recognition software to screen fully-automated financial transactions for potential violations of economic sanctions programs, the Office of Foreign Assets Control (``FAC'') will no longer treat fully-automated transactions differently from manually-processed transactions for civil penalty purposes.
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