Regulatory Alerts2003-02-10
Added
Requirement That Currency Dealers and Exchangers Report Suspicious Transactions
The Financial Crimes Enforcement Network amends 31 CFR Part 103 to require currency dealers and exchangers to report suspicious transactions to the Department of the Treasury. The amendments also require all money services businesses subject to the suspicious transaction reporting rule to report transactions involving suspected use of the business to facilitate criminal activity. A technical correction updates the form name for brokers and dealers in securities to report suspicious transactions. The rule becomes effective on March 12, 2003, with applicability beginning on August 11, 2003.
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