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Financial Institution Letter

Bank Secrecy Act Compliance

July 5, 1996
Notes
 

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Guidance On Currency Transaction Reporting Exemptions

To help financial institutions comply with newly effective changes and additions to the Bank Secrecy Act, the Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has published the attached answers to frequently asked questions about the new Currency Transaction Report (CTR) exemption procedures. These procedures took effect on April 1, 1996. Please circulate the attachment to each department of your institution with Bank Secrecy Act compliance responsibilities. If you have any questions concerning the attachment, please contact FinCEN at (800) 949-2732 or (703) 905-3920.

Nicholas J. Ketcha Jr.
Director


FIL-43-96

Last Updated: July 5, 1996