FinCEN Proposed Rule Seeks Greater Transparency for Prepaid Access

Mousey

Ueber Meister Mouse
Joined
Sep 12, 2004
Location
Up$hitCreek
I get update emails from the FINCEN...

Some may find this update noteworthy.

Also posting a link to the PDF which also has a link in it to more info for those who wish to look into this further. I'm home gobbling down some lunch and must go back to work and don't have the time to delve into this right now...

Edited to add link to
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FinCEN Proposed Rule Seeks Greater Transparency for Prepaid Access to Help Curb Money Laundering, Terrorist Financing

VIENNA, Va. – In a Notice of Proposed Rulemaking (NPRM) entitled Amendment to the Bank Secrecy Act Regulations – Definitions and Other Regulations Relating to Prepaid Access, the Financial Crimes Enforcement Network (FinCEN) today proposed new rules that would establish a more comprehensive regulatory framework for non-bank prepaid access. The proposed rule, which focuses on prepaid programs that pose the greatest potential risks of money laundering and terrorist financing, was developed in close cooperation with law enforcement and regulatory authorities.

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P.S. ..... I do hope that isn't the fat lady I hear clearing her thoat in the distance....
 

jod5413

Is That Better?
Joined
Mar 6, 2007
Location
somewhere on the planet
You aren't talking to yourself, Mousey. I AM the fat lady and I refuse to sing! :p

We will get through this BS, and come out on top eventually. From what I understand after reading, they will only be looking at amounts over two grand, mainly.

So, the whales already have their "safe" methods, it is just us little guys that have to be careful.

That's my take anyway.
 

felicie

Dormant account
Joined
Jan 21, 2009
Location
somewhere else
Wonder why they left out 'drug dealing'? 3 million responsible pp card users and how many terrorists? I love the way the 'bad apples' always continue on with their dastardly lives while the masses just get more rules and regulations. but no one said it was gonna be fair. thanks mousey that was a good one. :)
 
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