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Amendment to the Bank Secrecy Act Regulations; Requirement To Report Suspicious Transactions

aml-bsa-fincen · FinCEN · Rule · Published 1996-02-05 · Effective 1996-04-01 · 61 FR 4326

Document

Document number
96-2272
Federal Register citation
61 FR 4326
Type
Rule
Action
Final rule.
Category
aml-bsa-fincen
Sub-agency
FinCEN
Publication date
1996-02-05
Effective date
1996-04-01

Abstract

This document contains a final rule requiring banks and other depository institutions to report to the Department of the Treasury under the Bank Secrecy Act any suspicious transactions relevant to possible violations of federal law or regulation. The rule is adopted by the Financial Crimes Enforcement Network (``FinCEN'') to implement the authority granted to the Secretary of the Treasury by the Bank Secrecy Act. The rule is a key to the creation of a new method for the reporting by depository institutions, on a uniform ``Suspicious Activity Report,'' of suspicious transactions and known or suspected criminal violations; related rules have been or will be adopted by the five federal financial supervisory agencies that examine and regulate the safety and soundness of depository institutions.

Source

Authoritative
Federal Register document
Machine
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