New FinCEN Rules

FinCEN has published today in the Federal Register three inter-related proposals for new rules for the Bank Secrecy Act Regulations: 1. Changes in the scope and type of transactions to be regulated, including, say, micro payments and and electronic transactions such as stored value cards. 2. Changes in the reporting requirements for suspicious transactions and the types of institutions to be regulated, including "money services establishments." 3. Changes in requirements for reporting currency transactions, and setting a new floor at $750 (as reported recently in the news). http://jya.com/fc052197.htm (79K) http://jya.com/fc052197-2.htm (69K) http://jya.com/fc052197-3.htm (63K)