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

Zusammenfassung

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.