Journal of Accountancy Large Logo
|
General Interest

Money Laundering

May 2003

The Treasury Department’s Financial Crimes Enforcement Network introduces Form TD F 90-22.56, Suspicious Activity Report by Money Services Business, and advises certain nonbank financial institutions that they must immediately begin using it to report possible indications of money laundering or other financial crimes ( www.fincen.gov/sar_msb_announcement021303.pdf ). The form captures specific information—such as the identities of involved parties and the type, date and amount of suspicious transactions—that law enforcement agencies need to fight money laundering. Banks should continue using Form TD F 90-22.47, Suspicious Activity. A Treasury Department Web site ( www.msb.gov ) offers copies of the new form and detailed information to help companies determine whether the government considers them money services businesses.

View CommentsView Comments   |  
Add CommentsAdd Comment   |  
CPE Direct articles Web Exclusive content
AICPA Logo Copyright © 2010 American Institute of Certified Public Accountants. All rights reserved.
Reliable. Resourceful. Respected. (Tagline)