United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office General Government Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1995-07-28 monographic deposited born digital 17 p. GA 1.13:GGD-95-189 https://www.govinfo.gov/app/details/GAOREPORTS-GGD-95-189 P0b002ee1803953e5 f:gg95189 DGPO 2010-08-12 2011-03-23 GAOREPORTS-GGD-95-189 machine generated eng fdlp REPORT GAOREPORTS-GGD-95-189 GGD-95-189 Records management Financial institutions Financial records Currency and coinage Check disbursement or control Documentation Disclosure law Money laundering Reporting requirements Letter Report GGD Pursuant to a legislative requirement and a congressional request, GAO provided information on: (1) the current recordkeeping requirements for cashier checks; and (2) whether federal government and financial industry officials believe that additional recordkeeping requirements should be imposed on those financial institutions issuing cashier checks.<p/>GAO found that the Bank Secrecy Act (BSA) requires financial institutions issuing or exchanging cashier's checks to: (1) file a currency transaction report for financial transactions over $10,000; (2) capture and retain purchaser information for transactions between $3,000 to $10,000; (3) retain copies of cashier's checks for amounts over $100; and (4) maintain a record of certain check transactions exceeding $100. In addition, GAO found that federal government and financial industry officials believe that the current recordkeeping and reporting requirements are sufficient, and imposing additional requirements would not add to the effectiveness of the current BSA recordkeeping requirements. https://www.govinfo.gov/content/pkg/GAOREPORTS-GGD-95-189/html/GAOREPORTS-GGD-95-189.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GGD-95-189/pdf/GAOREPORTS-GGD-95-189.pdf GAO/GGD-95-189 https://www.govinfo.gov/app/details/GAOREPORTS-GGD-95-189 Letter Report GAO/GGD-95-189; Money Laundering: Stakeholders View Recordkeeping Requirements for Cashier's Checks as Sufficient; Records management Financial institutions Financial records Currency and coinage Check disbursement or control Documentation Disclosure law Money laundering Reporting requirements