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#1417969 - 07/21/10 04:26 PM 314a ??
markp Offline
Gold Star
Joined: Jan 2007
Posts: 382
New Jersey
We check our customer data base and our wire log against the 314 a list, do we need to be checking other items like monetary instruments?

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BSA/AML/CIP/OFAC Forum
#1418079 - 07/21/10 05:56 PM Re: 314a ?? markp
Dallas Fan Offline
100 Club
Joined: Feb 2008
Posts: 219
RIC
Yes, you must check those monetary instruments that are required to to be recorded, that is from $3000 - $10,000. However, you are not required to check against the payees on the monetary instruments.
Check the BSA Exam Manual for additional information on search requirements. There are also some FAQs out there regarding 314a. You can simply google for the FAQs.

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#1418258 - 07/21/10 09:01 PM Re: 314a ?? Dallas Fan
markp Offline
Gold Star
Joined: Jan 2007
Posts: 382
New Jersey
Does that still hold true if we only sell MI to our customers? and never for cash.
Last edited by markp; 07/21/10 09:01 PM.
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#1418297 - 07/21/10 09:35 PM Re: 314a ?? markp
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
As the 314(a) query process is relatively secret, we voluntarily refrain from discussing the specifics here. There is a detailed Q & A on the secure web site that answers your questions very clearly.
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