Regulatory Alerts2008-05-02
Added
Preparation Guidelines for Use of Special Response XX in FinCEN Form 109, Suspicious Activity Report by Money Services Business
Money services businesses must enter the special response "XX" in critical item fields of FinCEN Form 109 when specific information is unknown or inapplicable, as instructed by General Instruction 4. The guidance specifies that "XX" is required for items such as names, addresses, identification numbers, and transaction details where data is missing, while mandating that other fields remain blank or contain narrative descriptions instead. The document explicitly prohibits using "XX" in Part IV when the reporting business has a US address, in Part V, in the narrative section, or in any other items not explicitly covered by these instructions.
Topics
Share