Finance & markets · 19/05/2003

FinCEN Extends Conditional Exception to Bank Secrecy Act Regulations for Funds Transmittal Orders

The Financial Crimes Enforcement Network (FinCEN) is extending a conditional exception to Bank Secrecy Act regulations until December 1, 2003, to allow financial institutions to use coded information instead of customer names and addresses when transmitting funds. This extension is intended to facilitate a study of alternative methods to continue the exception.