New FinCEN Rules
John Young
jya at pipeline.com
Wed May 21 06:41:02 PDT 1997
FinCEN has published today in the Federal Register
three inter-related proposals for new rules for the Bank
Secrecy Act Regulations:
1. Changes in the scope and type of transactions to
be regulated, including, say, micro payments and
and electronic transactions such as stored value cards.
2. Changes in the reporting requirements for suspicious
transactions and the types of institutions to be regulated,
including "money services establishments."
3. Changes in requirements for reporting currency
transactions, and setting a new floor at $750 (as reported
recently in the news).
http://jya.com/fc052197.htm (79K)
http://jya.com/fc052197-2.htm (69K)
http://jya.com/fc052197-3.htm (63K)
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