TITLE

BSA Filing Relief May Be on the Way

AUTHOR(S)
Sandman, John
PUB. DATE
March 2008
SOURCE
Securities Industry News;3/3/2008, Vol. 20 Issue 9, p13
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses a report by the U.S. General Accountability Office (GAO) on the value of the currency transaction reports (CTR) filings, which are required under the anti-money laundering (AML) provisions of the Bank Secrecy Act (BSA). The BSA explained that CTR record cash withdrawals and deposits, currency exchanges and wire transfers purchased with cash for the amount of more than $10,000. The limitation of the CTR in preventing certain money-laundering strategies is considered.
ACCESSION #
31310853

 

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