Regulatory Alerts2003-02-24
Added
Anti-Money Laundering Programs for Travel Agencies
FinCEN is soliciting public comments on how to implement anti-money laundering and customer identification program requirements for travel agencies under sections 352 and 326 of the USA PATRIOT Act. The notice asks whether travel agencies should be subject to these regulations, how the term travel agency should be defined, and whether monetary thresholds or exemptions are appropriate. It also seeks input on the specific money laundering risks posed by the industry and how compliance programs should be structured to account for the size and activities of these businesses.
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