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Sep 27, 2010 12:23 PM

Anti-Terrorism Requirements for Financial Institutions

WASHINGTON (AP) - The Obama administration is proposing that
banks report all electronic money transfers in and out of the
country, expanding its anti-terrorism requirements for financial
institutions.
The Treasury Department's Financial Crimes Enforcement Network
says the new requirement would boost their ability to track the
source of funding for terrorists.
Currently banks are required to only report transactions above
$10,000 and any that they consider to be suspicious.

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