Memorandum of Understanding. An agreement between two parties establishing a set of principles within which they will govern their relationship on a particular matter. MOUs are used by countries to govern their sharing of assets in international asset-forfeiture cases or to set out their respective duties in anti-money laundering initiatives. MOUs are also used between U.S. government agencies on the sharing of information between themselves. Examples are agreements signed between OFAC and the IRS, and federal banking regulators with respect to reviews conducted by the IRS or the regulator for compliance with U.S. economic sanctions. The sharing of information under such MOUs is intended to help OFAC in administrating U.S. economic sanctions and to assist the banking regulators and IRS in exercising its delegated examination authorities. 

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