Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums BSA/AML/CIP/OFAC Forum Monetary Instrument Purchases
Thread Options
#1236337 - 08/20/09 06:35 PM Monetary Instrument Purchases
Compgal Offline
Junior Member
Joined: Feb 2006
Posts: 42
If the bank requires it's customers to deposit cash into their account and then make a withdrawal to purchase a monetary instrument is the bank still required to record the purchase?

Return to Top
BSA/AML/CIP/OFAC Forum
#1236343 - 08/20/09 06:42 PM Re: Monetary Instrument Purchases Compgal
Kelsey D Offline
Platinum Poster
Joined: Aug 2006
Posts: 516
Ohio
Yes. The BSA/AML Exam Manual addresses that on page 96. FinCEN issued guidance on this topic in November 2002.
Last edited by Kelsey D; 08/20/09 06:44 PM.
_________________________
Don't make me say, "I told you so!" Sincerely, your friendly Compliance Officer.

Return to Top

Moderator:  Andy_Z