[Federal Register Volume 60, Number 125 (Thursday, June 29, 1995)]
[Rules and Regulations]
[Page 33725]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-15910]



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DEPARTMENT OF THE TREASURY

31 CFR Part 103


Amendments to the Bank Secrecy Act Regulations Regarding 
Reporting and Recordkeeping Requirements by Casinos; Correction

AGENCY: Financial Crimes Enforcement Network, Treasury.

ACTION: Correcting amendments.

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SUMMARY: This document contains corrections to regulations related to 
the Bank Secrecy Act reporting and recordkeeping requirements for 
casinos.

EFFECTIVE DATE: June 29, 1995.

FOR FURTHER INFORMATION CONTACT: Leonard C. Senia, Compliance 
Specialist, Office of Regulatory Policy and Enforcement, Financial 
Crimes Enforcement Network, (703) 905-3931.

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of these corrections 
affect casinos which are designated generally as ``financial 
institutions'' for purposes of the Bank Secrecy Act see, e.g., 31 CFR 
103.11(i)(7). Under the Bank Secrecy Act's implementing regulations, 
these casinos are subject to particular reporting and recordkeeping 
requirements, see, e.g., 31 CFR 103.22(a)(2), 103.36 and 103.54.

Need for Correction

    As published, the final regulations contain errors which may prove 
to be misleading and are in need of clarification. The first correction 
removes a misleading effective date and the second correction is for a 
misspelling.

List of Subjects in 31 CFR Part 103

    Authority delegations (Government agencies), Banks and banking, 
Currency, Foreign banking, Investigations, Law enforcement, Reporting 
and recordkeeping requirements, Taxes.

    Accordingly, 31 CFR part 103 is corrected by making the following 
correcting amendments:

PART 103--FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND 
FOREIGN TRANSACTIONS

    1. The authority citation for part 103 continues to read as 
follows:

    Authority: Pub. L. No. 91-508, title I, 84 Stat. 1114 (12 U.S.C. 
1829b, 1951-1959); 31 U.S.C. 5311-5330.

Sec. 103.54  [Corrected]

    2. In Sec. 103.54, paragraph (a)(1), is revised to read as follows:

Sec. 103.54  Special rules for casinos.

    (a) * * *

    (1) Each casino shall develop and implement a written program 
reasonably designed to assure and monitor compliance with the 
requirements set forth in 31 U.S.C. chapter 53, subchapter II and the 
regulations contained in this part.

* * * * *

    3. In Sec. 103.54(a)(2)(v)(B), remove ``usual'' and add in its 
place ``unusual''.

    Dated: June 23, 1995.

Stanley E. Morris,

Director, Financial Crimes Enforcement Network.

[FR Doc. 95-15910 Filed 6-28-95; 8:45 am]

BILLING CODE 4820-03-P