Money Laundering


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.

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