Do the new E-Verify rules that are effective Sept 8th pertain to banks?
Husband and wife customers came in and purchased $10,000 in savings bonds. They used a $4,000 on us check and a $3,000 savings withdrawal and $3,000 in cash. Our bank completes Monetary Instrument Logs for Official Checks, Travelers Checks, and Cashier’s Checks that are purchased with cash between $3,000-$10,000. Would a Savings Bond qualify as a "Monetary Instrument"?
If a customer comes in and purchases a Savings Bond for his wife with $15,000.00 in cash, should multiple persons be checked? Would just the wife's information go on the CTR since she is the beneficiary or would just the husband's information go on the CTR since he is the one who actually had the cash in hand?
Are Savings bonds considered a monetary instrument under the BSA?