Sep 24, 2014
FinCen Updates - September 24, 2014: FinCEN Issues Administrative Ruling on the Application of FinCEN Regulations to Currency Transporters, Including Armored Car Services Inbox x
FinCEN Issues Administrative Ruling on the Application of FinCEN Regulations to Currency Transporters, Including Armored Car Services
The Financial Crimes Enforcement Network (FinCEN) today issued an administrative ruling on the application of FinCEN regulations to currency transporters, including armored car services. The Ruling discusses the evolution in services that some currency transporters provide and the circumstances under which they must register with FinCEN as money transmitters and comply with the relevant aspects of the Bank Secrecy Act (BSA).
The Ruling contributes to a regulatory initiative by FinCEN to address ongoing concerns about transnational criminal organizations exploiting the lack of transparency in the movement of cash across the U.S./Mexico border via armored car services and other currency transporters as a means to launder their criminal proceeds. Previously, FinCEN issued guidance to currency transporters on the correct and complete way to file the Report of International Transportation of Currency or Monetary Instruments (CMIR) (FIN-2014-G002) and a Geographic Targeting Order (GTO), requiring enhanced BSA reporting at two ports of entry along the U.S./Mexico border.
|WEDNESDAY, SEPTEMBER 24, 2014|
|World Bank Group Weekly Update|
Includes common, closed end funds, ETFs, ETNs and REITS with prior day close of $2 a share or higher, with volume of at least 2,000.
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Source: WSJ Market Data Group