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The Financial Crimes Enforcement Network (FinCEN) issued a final rule today that amends the Bank Secrecy Act (BSA) to add futures commission merchants and introducing brokers in commodities to the regulatory definition of “financial institution,” thus subjecting them to the recordkeeping and…

Dear [ ]: This letter responds to your letter dated February 5, 2003, requesting an administrative ruling with respect to whether [ ] is required to register with FinCEN as a Money Services Business in accordance with 31 CFR 103.41 by virtue of operating [ ]. Based on the representations contained…

A system allowing law enforcement officials investigating terrorist financing and major money laundering cases to relay targets of investigation to thousands of financial institutions has resulted in a large number of financial leads for investigators, reports the Financial Crimes Enforcement…

PowerPoint Presentation Downloading and Viewing Instructions FinCEN, in consultation with the federal regulatory authorities, has issued a guidance package designed to assist financial institutions in the preparation of Suspicious Activity Report (SAR) forms and to improve the quality of…

Dear [ ]: This letter responds to your letter dated July 8, 2003, requesting an administrative ruling with respect to whether your client, [ ], is required to register with FinCEN as a Money Services Business in accordance with 31 CFR 103.41. FinCEN had previously declined to provide [ ] with such…

Dear [ ]: This letter responds to your July 14, 2003 letter on behalf of [ ] and [ ], requesting an administrative ruling with respect to whether either party, [ ] or [ ], is a Money Services Business (“MSB”) as defined in 31 CFR 103.11(uu), and therefore subject to the MSB registration requirement…