Regulatory Alerts2010-09-30
Added
Cross-Border Electronic Transmittals of Funds
The Financial Crimes Enforcement Network proposes regulations requiring certain banks and money transmitters to report to FinCEN transmittal orders associated with cross-border electronic transmittals of funds. The proposal also mandates that all banks file an annual list of taxpayer identification numbers for accountholders who transmitted or received such funds. Written comments on this proposed rulemaking must be received on or before December 29, 2010.