The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration and Office of the Comptroller of the Currency issued a joint enforcement policy supporting humanitarian relief, reconstruction and financial stability in Venezuela following the June 24 earthquakes. The agencies will not take supervisory or enforcement action against supervised financial institutions for Bank Secrecy Act and related anti-money laundering violations resulting from authorized financial services provided to persons or entities in Venezuela from July 31, 2026, through Jan. 29, 2027. Institutions may rely on the policy if they comply with applicable BSA program requirements and continue reasonable compliance efforts, have not faced a final BSA-related enforcement action from the relevant agency or the Financial Crimes Enforcement Network during the preceding 24 months, and comply with applicable Office of Foreign Assets Control sanctions and authorizations. The relief does not cover knowing, willful or intentional BSA violations or requirements beyond those specifically addressed.
Federal Deposit Insurance Corporation2026-07-31
Federal Reserve, Federal Deposit Insurance Corporation, National Credit Union Administration and Office of the Comptroller of the Currency provide temporary BSA enforcement relief for authorized financial services in Venezuela
U.S. federal banking agencies will provide temporary BSA enforcement relief for authorized financial services supporting humanitarian relief and economic recovery in Venezuela from July 31, 2026, through Jan. 29, 2027. Relief is conditional on continued reasonable BSA compliance, no relevant final enforcement action in the prior 24 months and compliance with applicable OFAC sanctions and authorizations.