← Treasury Federal Register rules

Financial Crimes Enforcement Network; Amendment to the Bank Secrecy Act RegulationsExemptions From the Requirement To Report Transactions in Currency

aml-bsa-fincen · FinCEN · Rule · Published 1997-09-08 · Effective 1998-01-01 · 62 FR 47141

Document

Document number
97-23643
Federal Register citation
62 FR 47141
CFR reference
31 CFR 103
Type
Rule
Action
Final rule.
Category
aml-bsa-fincen
Sub-agency
FinCEN
Publication date
1997-09-08
Effective date
1998-01-01

Abstract

This document contains a final rule amending the Bank Secrecy Act regulations. The amendment will eliminate the requirement to report transactions in currency in excess of $10,000 between depository institutions and certain classes of ``exempt persons'' defined in the rule. It will modify (and, as modified, will supersede), an interim rule on the same subject, to reflect the comments that were requested when the interim rule was published. There appears elsewhere in today's edition of the Federal Register a notice of proposed rulemaking that would further modify the rules for granting exemptions from the currency transaction report filing requirements. The final rule and the notice of proposed rulemaking are additional steps in a process intended to achieve the reduction set by the Money Laundering Suppression Act of 1994 in the number of Bank Secrecy Act currency transaction reports required to be filed annually by depository institutions.

Source

Authoritative
Federal Register document
Machine
JSON-LD · Markdown