FBI fears over BSA changes


Michael Morehart, the FBI's chief of terrorist financing operations, said during a hearing on A current assessment of money laundering and terrorist financing threats and countermeasures at the senate banking committee, that any change to the BSA provisions must be carefully studied.

Financial institutions have been pushing for an increase in the threshold amount at which a currency transaction report (CTR) would be generated. Currently, a CTR must be filed for a transaction of $10,000 or more

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