Amendment to the Bank Secrecy Act Regulations – Definition of “Monetary Instrument”

 
Docket ID: FINCEN-2011-0003
Agency: Financial Crimes Enforcement Network (FINCEN)
Parent Agency: Department of the Treasury (TREAS)
Summary:

FinCEN proposes to amend the regulations issued under 31 U.S.C. 5316, namely the definition of "monetary instrument" at 31 CFR 1010.100(dd) and the international transport of currency and monetary instrument reporting requirement at 31 CFR 1010.340, to include tangible prepaid access devices. The current regulations require that a form be filed reporting the international transportation, mail, or shipment of currency or other monetary instruments in an aggregate amount that exceeds $10,000. The term "monetary instrument" is defined in the BSA to include currency and a variety of bearer negotiable instruments, securities, and similar items, but does not specifically include any types of prepaid access devices. Nevertheless, FinCEN has regulatory authority to expand the definition of monetary instruments to include items deemed to be "similar materials" to coins and currency of a foreign country, travelers' checks, bearer negotiable instruments, bearer investment securities, bearer securities, and stock on which title is passed on delivery.

RIN: 1506-AB13
Impacts and Effects: International
CFR Citation: 31 CFR 1010.340
Priority: Other Significant

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    Dec 16, 2011 11:59 PM ET

    Public Submission

    FINCEN

    FINCEN-2011-0003-0009

    12/20/2011

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    Public Submission

    FINCEN

    FINCEN-2011-0003-0002

    12/15/2011

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    FINCEN

    FINCEN-2011-0003-0010

    12/20/2011

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    Public Submission

    FINCEN

    FINCEN-2011-0003-0007

    12/20/2011

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    FINCEN

    FINCEN-2011-0003-0005

    12/20/2011

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    FINCEN

    FINCEN-2011-0003-0008

    12/20/2011

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    Dec 16, 2011 11:59 PM ET

    Public Submission

    FINCEN

    FINCEN-2011-0003-0004

    12/15/2011

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    Public Submission

    FINCEN

    FINCEN-2011-0003-0015

    01/05/2012

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    FINCEN

    FINCEN-2011-0003-0012

    12/20/2011

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    FINCEN

    FINCEN-2011-0003-0013

    12/20/2011

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    FINCEN

    FINCEN-2011-0003-0014

    12/20/2011

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    FINCEN

    FINCEN-2011-0003-0017

    04/18/2012

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    FINCEN

    FINCEN-2011-0003-0006

    12/20/2011

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    FINCEN

    FINCEN-2011-0003-0011

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    FINCEN

    FINCEN-2011-0003-0003

    12/15/2011

      undefined
      • Please see attached comment from Green Dot Corporation. John Ricci General Counsel Green Dot Corporation

      • Public Submission
      • Posted:

        12/20/2011

      • ID:
        FINCEN-2011-0003-0009
      • Organization:
        Green Dot Corporation
      • Submitter Name:
        Lisa Gok
      undefined
      • Comments from the New York State Society of CPAs

      • Public Submission
      • Posted:

        12/15/2011

      • ID:
        FINCEN-2011-0003-0002
      • Organization:
        New York State Society of CPAs
      • Submitter Name:
      undefined
      • Please find attached ABA's comment letter re: Definition of Monetary Instrument, RIN 1506-AB13.

      • Public Submission
      • Posted:

        12/20/2011

      • ID:
        FINCEN-2011-0003-0010
      • Organization:
        American Bankers Association
      • Submitter Name:
        Robert Rowe, III
      undefined
      • See attached file(s)

      • Public Submission
      • Posted:

        12/20/2011

      • ID:
        FINCEN-2011-0003-0007
      • Organization:
        Network Branded Prepaid Card Association
      • Submitter Name:
        Kirsten Trusko
      undefined
      • See attached file(s)

      • Public Submission
      • Posted:

        12/20/2011

      • ID:
        FINCEN-2011-0003-0005
      • Organization:
        MetaBank
      • Submitter Name:
        Jessica Zitterkopf
      undefined
      • Attached please find MasterCard's comment letter in response to the notice of proposed rulemaking issued by the Treasury Department’s Financial Crimes Enforcement Network (“FinCEN...

      • Public Submission
      • Posted:

        12/20/2011

      • ID:
        FINCEN-2011-0003-0008
      • Organization:
        MasterCard Worldwide
      • Submitter Name:
        Randi Adelstein
      undefined
      • See attached

      • Public Submission
      • Posted:

        12/15/2011

      • ID:
        FINCEN-2011-0003-0004
      • Organization:
        International Bancshares Corporation
      • Submitter Name:
        Dennis Nixon
      • CTIA Comment

      • Public Submission
      • Posted:

        01/05/2012

      • ID:
        FINCEN-2011-0003-0015
      • Organization:
      • Submitter Name:
      undefined
      • See attached file(s)

      • Public Submission
      • Posted:

        12/20/2011

      • ID:
        FINCEN-2011-0003-0012
      • Organization:
        Entertainment Software Association
      • Submitter Name:
        Christian Genetski
      undefined
      • See attached file(s)

      • Public Submission
      • Posted:

        12/20/2011

      • ID:
        FINCEN-2011-0003-0013
      • Organization:
        Blackhawk Network Holdings, Inc
      • Submitter Name:
        David Durant
      undefined
      • Attached are the comments of Visa Inc.

      • Public Submission
      • Posted:

        12/20/2011

      • ID:
        FINCEN-2011-0003-0014
      • Organization:
        Visa Inc.
      • Submitter Name:
        Alex Miller
      • HSI Comment

      • Public Submission
      • Posted:

        04/18/2012

      • ID:
        FINCEN-2011-0003-0017
      • Organization:
      • Submitter Name:
      undefined
      • See attached file(s)

      • Public Submission
      • Posted:

        12/20/2011

      • ID:
        FINCEN-2011-0003-0006
      • Organization:
        NetSpend Corporation
      • Submitter Name:
        Steven Coleman
      undefined
      • See Attached Comments

      • Public Submission
      • Posted:

        12/20/2011

      • ID:
        FINCEN-2011-0003-0011
      • Organization:
      • Submitter Name:
      undefined
      • See attached file(s)

      • Public Submission
      • Posted:

        12/15/2011

      • ID:
        FINCEN-2011-0003-0003
      • Organization:
        Independent Bankers Association of Texas
      • Submitter Name:
        Chris Williston
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