ABSTRACT

Financial Crimes Enforcement Network Guidance: Guidance on Supporting Information Suitable for Determining the Portion of a Business Customer's Annual Gross Revenues that is Derived from Activities Ineligible for Exemption from Currency Transaction Reporting Requirements, April 27, 2009   [open pdf - 123KB]

"The Financial Crimes Enforcement Network (FinCEN) is issuing this guidance to assist banks in determining the appropriateness of exempting from currency transaction reporting requirements non-listed business customers that derive some portion of their annual gross revenues from ineligible business activities. Pursuant to the Bank Secrecy Act, a bank is required to file a Currency Transaction Report for each transaction in currency of more than $10,000 by, through, or to that bank. Additionally, multiple currency transactions totaling more than $10,000 during any one business day must be treated as a single transaction if the bank has knowledge that they are by or on behalf of the same person."

Report Number:
FinCEN Guidance FIN-2009-G001
Publisher:
Date:
2009-04-27
Copyright:
Public Domain
Retrieved From:
Financial Crimes Enforcement Network: http://www.fincen.gov
Format:
pdf
Media Type:
application/pdf
URL:
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