The Financial Crimes Enforcement Network is issuing this final rule to implement the requirements contained in section 312 of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001 (the Act). Section 312 requires U.S. financial institutions to establish due diligence policies, procedures, and controls reasonably designed to detect and report money laundering through correspondent accounts and private banking accounts that U.S. financial institutions establish or maintain for non-U.S. persons. This final rule supercedes an interim final rule we issued on July 23, 2002. The interim final rule temporarily deferred application of the requirements contained in section 312 for certain financial institutions and provided guidance, pending issuance of a final rule, to those financial institutions for which compliance with section 312 was not deferred. We are publishing elsewhere in this separate part of the Federal Register a Notice of Proposed Rulemaking implementing section 312, and focusing exclusively on enhanced due diligence requirements.