Money Laundering, Terrorism and Financial Institutions - USA Patriot Act Monitor

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4/10/2004 USA PATRIOT Act Monitor News Release: FinCEN Proposes Two Currency Transportation Forms

The Financial Crimes Enforcement Network, continuing its program of redesigning BSA reporting forms, now proposes to split FinCEN Form 105: Report of International Transportation of Currency or Monetary Instruments into two separate forms: FinCEN Form 105: Report Of International Transportation of Currency or Monetary Instruments - Accompanied By An Individual, and Form 106: Report Of An International Transportation Of Currency Or Monetary Instruments - Shipment, Mailing, or Receipt. The proposed Form 105 contains new items for the individual's occupation and telephone number, and asks the reason for transporting the currency or monetary instruments. Form 106 includes new items asking for the telephone number of the sender and the reason for the shipment. FinCEN is requesting comments, by June 8, 2004, on the agency's estimate of the burden of collecting the information (15 minutes per form), and ways to enhance the quality, utility, and clarity of the forms. (See 69 Fed. Reg. 18999, April 9, 2004.)


The USA PATRIOT Act Monitor and the news releases prepared by the Monitor staff are services of the Civic Research Institute, publisher of Money Laundering, Terrorism, and Financial Institutions, by Raymond Banoun and John Ensminger. Contact and subscription information may be obtained at http://www.civicresearchinstitute.com/moneylaundering or by calling the Civic Research Institute at 609-683-4450 (fax: 609-683-7291).

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