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Joint Press Release
December 03, 2013

FinCEN, Federal Reserve finalize rule amending
definitions in the Bank Secrecy Act
Board of Governors of the Federal Reserve System
Financial Crimes Enforcement Network
For immediate release
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The Financial Crimes Enforcement Network (FinCEN), a bureau of the
U.S. Department of the Treasury, and the Federal Reserve Board on
Tuesday announced a final rule amending the definitions of "funds
transfer" and "transmittal of funds" under regulations implementing the
Bank Secrecy Act. The final rule adopts the amendments as proposed in
November 2012.
The amendments to the definitions maintain the current scope of funds
transfers and transmittals of funds subject to the Bank Secrecy Act and
are necessary in light of amendments to the Electronic Fund Transfer
Act made by the Dodd-Frank Wall Street Reform and Consumer
Protection Act.
Federal Register notice HTML | PDF
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Media Contacts:
Federal Reserve
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Barbara
Hagenbaugh

FinCEN

Steve Hudak

202-4522955
703-9055149

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Last Update: December 03, 2013

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