1506-AB13 201410 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 1506 Financial Crimes Enforcement Network FINCEN 1500 Department of the Treasury TREAS Amendment to the Bank Secrecy Act Regulations--Definition of "Monetary Instruments"

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.

]]> Other Significant Previously Published in The Unified Agenda Proposed Rule Stage No No 31 CFR 1010.340 31 USC 5316 No NPRM 10/17/2011 76 FR 64049 NPRM Comment Period End 12/16/2011 Supplemental NPRM 03/00/2015 No No None No No No Yes Elizabeth Baltierra Regulatory Policy Project Officer 1506 Financial Crimes Enforcement Network FINCEN 703 905-5132 elizabeth.baltierra@fincen.gov P. O. Box 39, Vienna VA 22183