On July 27, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”), in consultation with the Internal Revenue Service, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency, issued a joint statement of enforcement policy aimed at supporting economic recovery and providing humanitarian relief following recent earthquakes in Venezuela. The statement accompanies sanctions-related authorizations issued by Treasury’s Office of Foreign Assets Control, including General License 60 and General License No. 57, which are designed to facilitate financial stability in the region.
Under the policy, FinCEN commits to not pursue supervisory or enforcement action against U.S. financial institutions for potential violations of the Bank Secrecy Act (“BSA”), the USA PATRIOT Act, or related implementing regulations arising from the provision of authorized financial services to persons or entities in Venezuela during the period from July 27, 2026, through January 29, 2027. To qualify for this relief, institutions must maintain compliance with applicable BSA compliance program requirements, must not have been the subject of a final enforcement action within the prior 24 months involving BSA violations, and must remain compliant with all applicable OFAC-administered sanctions regulations and authorizations.
FinCEN – Statement of Enforcement Policy in Support of Venezuela’s Economic Recovery and Earthquake Relief Efforts | General License 57 | General License 60