Money Services Businesses, including money transmitters, are filing voluntary suspicious activity reports that describe attempts by customers to disperse transactions and circumvent record keeping requirement thresholds. This finding is reported in the third issue of the…
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The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has established a FINANCIAL INSTITUTIONSHOTLINE, 1-866-556-3974, for financial institutions to voluntarily reportto law enforcement suspicious transactions that may relate to recent terroristactivity against the…
Dear [ ]:
This letter responds to your letter dated June 4, 2001, on behalf of [ ] (the “Bank”),requesting a determination whether the Bank is required under 31 U.S.C. § 5313, and itsimplementing regulations found at 31 C.F.R. § 103.22, to aggregate multiple currencytransactions for purposes…
Dear [ ]:
This responds to your letter dated February 25, 2000, on behalf [ ] (the “Bank”), to theFinancial Crimes Enforcement Network (“FinCEN”). In that letter, you requested a ruling on theapplication of the rules relating to the filing of a currency transaction report (“CTR”),…
A mechanism for providing feedback to financialinstitutions about a key anti-money laundering reporting requirement onsuspicious activity was put in place with the release today of TheSAR Activity Review – Trends, Tips and Issues.
The…