Money Laundering


The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) in April proposed changes to its current Form 105, Report of International Transportation of Currency and Monetary Instruments ( www.fincen.gov/cmirforms60-day.pdf ). The revision would facilitate law enforcement by obtaining additional information about the movement of currency and monetary instruments. FinCEN would achieve this by converting its existing report into two documents: Form 105, Report of International Transportation of Currency and Monetary Instruments—Accompanied by an Individual , and Form 106, Report of International Transportation of Currency and Monetary Instruments—Shipment, Mailing, or Receipt. Comments are due June 8.

The International Federation of Accountants (IFAC) in March issued Anti-Money Laundering—2nd Edition , a paper addressing the profession’s role in detecting money laundering and implementing controls to prevent it. The publication, which includes a compendium of relevant guidance, is available free of charge from IFAC at www.ifac.org/Store/Details.tmpl?SID=101043515678981 . Its original edition appeared in January 2002.

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