Retention of Cashier's Check Log

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Question:

What is the retention requirement for cashier's check logs for customer identification?

Answer:

If you are referring to the information required to be retained by the Bank Secrecy Act regulations at Sec. 103.29 - Purchases of bank checks and drafts, cashier's checks, money orders and traveler's checks, the retention period is five years. See Sec. 103.38(d).

First published on BankersOnline.com 3/6/06