The reports of transactions in currency requirements for money services businesses are located in subpart C of part 1010 of this chapter and this subpart.

This document governs the reporting of suspicious transactions by money services businesses. It applies to money services businesses described in 1010.100(ff)(1), (3), (4), (5), (6), and (7) of this chapter. The document requires money services businesses to file a report with the Treasury Department for any suspicious transaction relevant to a possible violation of law or regulation. The transaction must involve or aggregate funds or other assets of at least $2,000 and the money services business must know, suspect, or have reason to suspect that the transaction is related to illegal activity, is intended to hide or disguise funds derived from illegal activity, or serves no business or apparent lawful purpose.

This legal document outlines the registration requirements for money services businesses (MSBs) in the United States. It states that all MSBs, regardless of whether they are licensed by a state, must register with the Financial Crimes Enforcement Network (FinCEN). Providers of prepaid access must also identify each prepaid program they offer. Foreign-located persons doing business as an MSB in the United States must designate a person residing in the United States as an agent for legal process and provide an address for record-keeping.

This legal document, found in the Code of Federal Regulations, outlines the requirements for anti-money laundering programs applicable to insurance companies. The program must be developed and implemented by each insurance company to prevent the use of insurance services for money laundering or financing terrorist activities. The program should incorporate policies, procedures, and internal controls based on the company’s assessment of money laundering and terrorist financing risks. It should also designate a compliance officer responsible for program implementation, updating, and training of relevant personnel.

This document governs the reporting requirements for insurance companies regarding suspicious transactions involving covered products. Insurance companies are required to file a report with the Financial Crimes Enforcement Network (FinCEN) if they have knowledge or suspicion of a transaction involving at least $5,000 in funds or assets that may be related to illegal activity, money laundering, or criminal activity facilitated through the insurance company. The report, known as a Suspicious Activity Report (SAR), must be filed within 30 calendar days of the initial detection of the suspicious transaction.

Except as otherwise provided, every person engaging in any transaction subject to the provisions of this chapter shall keep a full and accurate record of each such transaction engaged in, regardless of whether such transaction is effected pursuant to license or otherwise, and such record shall be available for examination for at least 5 years after the date of such transaction. Except as otherwise provided, every person holding property blocked pursuant to the provisions of this chapter or funds transfers retained pursuant to 596.

This regulation requires every person to furnish reports or information, under oath, to the Office of Foreign Assets Control (OFAC) as and when required. The reports should contain complete information regarding any act or transaction, regardless of whether it was conducted under a license or not, and any property in which a foreign country or national has or had an interest. The reports may also include the production of relevant documents in the custody or control of the reporting persons.

This document outlines the reporting requirements for holders of blocked property and releasers of property from blocked status under the Office of Foreign Assets Control (OFAC). It applies to any U.S. person or person subject to U.S. jurisdiction, including financial institutions. The document specifies that the primary responsibility for reporting rests with the actual holder or releaser of the property. It also provides details on the information that must be reported, including the name and address of the person holding the property, a description of the transaction associated with the blocking, the associated sanctions target(s), a description of the blocked property, the date the property was blocked, and the legal authority for the blocking.

This document pertains to the reporting of rejected transactions by U.S. persons or persons subject to U.S. jurisdiction, including financial institutions. If a transaction is rejected because it would violate a provision in this chapter, a report must be submitted to the Office of Foreign Assets Control (OFAC). The report should include information such as the name and address of the person rejecting the transaction, a description of the transaction, details of any associated sanctions targets, the date of rejection, the value of the property involved, the legal authority for the rejection, and any related documentation.

This legal document authorizes banks subject to the jurisdiction of the United States to make payments from blocked accounts for checks and drafts. There are certain conditions for such payments: (1) The amount involved in any one payment, acceptance, or debit should not exceed $3000; or (2) The check or draft was within the United States in the process of collection by a domestic bank on or prior to the effective date and does not exceed $50,000.