View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

F ederal R eser v e Bank
OF DALLAS

Dallas, Texas, October 15, 1962

To All Banking Institutions and Others Concerned
in the Eleventh Federal Reserve District:
There is enclosed a copy of a memorandum from the Under Secretary
of the Treasury for Monetary Affairs requesting that special attention be
given to the reporting of unusual currency transactions and particularly
to those that could possibly indicate a connection with the recent holdup
of a mail truck in Massachusetts.
It will be appreciated if you will report by telephone to this bank or
appropriate branch any of the transactions that you feel might be con­
nected with the mail truck robbery.
Yours very truly,
Watrous H. Irons
President

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

THE UNDER SECRETARY OF THE TREASURY
FOR MONETARY AFFAIRS

W A S H IN G T O N 25. D .C.
October 15, 1962

TO BANKS AND OTHER FIMAMCIAL INSTITUTIONS;
The Treasury has been requested to assist in the apprehension of those
responsible in the recent holdup south of Plymouth, Massachusetts, of a mail
truck carrying $1,551,000 in currency enroute to the Federal Reserve Bank of
Boston. Unless the thieves are apprehended and the currency recovered, the
greater part if not all of the stolen currency eventually will be cleared
through banking channels. Consequently, if any unusual currency transactions
are brought to your attention, which could possibly indicate a connection
with the above robbery, it would be particularly helpful if you would im­
mediately telephone the information to the Federal Reserve Bank of your
district.
Concurrently, the apprehension of the thieves could conceivably be
effected through the information contained in the reports on Form TCR—1
MReport of Currency Transactions," which are required under existing
Federal laws and regulations. In this connection the Treasury has been
concerned over the noticeable decline in Forms TCR—1 received by the
Internal Revenue Service during the past year. This matter is of par­
ticular importance since the Federal Government has derived considerable
benefit from such currency reports.
I wish to take this opportunity to request that all financial insti­
tutions review the measures that have been taken to implement this program
to make certain that all officials and employees are aware of current report­
ing requirements. On January 25, I960 each financial institution was furnish­
ed a supply of 3 x 5 cards entitled "Currency Transaction Reports Instructions."
These cards were prepared for distribution to tellers with the objective that,
when such cards were placed in tellers' work areas, they would serve not only
as a reminder to the teller of the importance of these reports to the Treasury,
but would also keep before him the types of transactions that should be reported.
An additional supply of the cards, if needed, can be obtained from the office
of the District Director in any Internal Revenue Service District.
You may be assured that reports of currency transactions receive special
handling by selected employees in the Treasury Department's Internal Revenue
Service who are cautioned that the reporting of currency transactions is not
to be divulged to unauthorized persons.
Your cooperation and assistance in this matter will be greatly appreciated.

Robert V. Roosa