New FinCEN Rules

[John Young <jya@pipeline.com>]

FinCEN has published today in the Federal Register
three inter-related proposals for new rules for the Bank 
Secrecy Act Regulations:

1. Changes in the scope and type of transactions to
be regulated, including, say, micro payments and
and electronic transactions such as stored value cards.

2. Changes in the reporting requirements for suspicious 
transactions and the types of institutions to be regulated, 
including "money services establishments."

3. Changes in requirements for reporting currency 
transactions, and setting a new floor at $750 (as reported 
recently in the news).

   http://jya.com/fc052197.htm  (79K)

   http://jya.com/fc052197-2.htm  (69K)

   http://jya.com/fc052197-3.htm  (63K)