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Bank Secrecy Act Compliance
The FDIC recently issued a bulletin entitled "Guidance On Currency Transaction Reporting Exemptions" (FIL-43-96). The bulletin specifically requests that your CEO circulate it to each department within your institution that has Bank Secrecy Act compliance responsibilities.
The bulletin is intended to be used as a training and reference guide to answer general, basic questions about how to implement the new CTR exemption procedures. It is not meant to be comprehensive and it does not replace or supplement the regulations. You can go to the Internet and download a copy for your use-it's five pages long.
Copyright © 1996 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 6, No. 10, 8/96
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