11 July 1998
Source: http://www.access.gpo.gov/su_docs/aces/aaces002.html

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[Federal Register: July 9, 1998 (Volume 63, Number 131)]
[Proposed Rules]
[Page 37085]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr09jy98-18]

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DEPARTMENT OF THE TREASURY

31 CFR Part 103

RIN 1506-AA22


Financial Crimes Enforcement Network; Bank Secrecy Act
Regulations; Suspicious Transaction Reporting by Casinos and Card
Clubs; Open Working Meetings

AGENCY: Financial Crimes Enforcement Network, Treasury.

ACTION: Meetings on proposed regulations.

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SUMMARY: The Financial Crimes Enforcement Network (``FinCEN'') will
hold four working meetings to give interested persons the opportunity
to discuss with Treasury officials issues regarding proposed Bank
Secrecy Act regulations relating to suspicious transaction reporting by
casinos and card clubs.

DATES: Meeting 1: July 14, 1998 from 9:00 a.m. to 12:30 p.m., New
Orleans, LA.
    Meeting 2: July 23, 1998 from 9:00 a.m. to 12:30 p.m., Chicago, IL.
    Meeting 3: August 6, 1998 from 9:00 a.m. to 12:30 p.m., Scottsdale,
AZ.
    Meeting 4: September 9, 1998 from 9:00 a.m. to 12:30 p.m., New
York, NY.

ADDRESSES: Meeting 1: The Westin Canal Place, 100 Rue Iberville, New
Orleans, LA 70130.
    Meeting 2: Holiday Inn, Chicago City Centre, 300 East Ohio Street,
Chicago, IL 60611.
    Meeting 3: Scottsdale Hilton, 6333 North Scottsdale Road,
Scottsdale, AZ 85250.
    Meeting 4: New York Hilton and Towers, 1335 Avenue of the Americas,
New York City, NY 10019.

FOR FURTHER INFORMATION CONTACT: About the proposed regulations: Len
Senia, Senior Financial Enforcement Officer, FinCEN, at (703) 905-3931,
or Cynthia Clark, Deputy Chief Counsel, FinCEN, at (703) 905-3758.
    About meeting registration: Anna Fotias, Financial Crimes Policy
Analyst, FinCEN, at (703) 905-3695.

SUPPLEMENTARY INFORMATION: On May 18, 1998, FinCEN issued proposed
regulations (63 FR 27230) relating to suspicious transaction reporting
by casinos and card clubs. The proposed regulations would require
casinos and card clubs to report to the Treasury Department suspicious
transactions involving at least $3,000 in funds or other assets,
relevant to a possible violation of law or regulation. The proposed
regulations would also require casinos and card clubs to establish
procedures designed to detect occurrences or patterns of suspicious
transactions and would make certain other changes to the requirements
that casinos maintain Bank Secrecy Act compliance programs.
    FinCEN is announcing today that it will hold four meetings to
discuss issues relating to the proposed regulations. Although persons
attending the meetings are encouraged to discuss any of their comments,
concerns, or suggestions about the proposed regulations, FinCEN hopes
that the meetings will include discussion of the following matters: (1)
the $3,000 threshold for reporting suspicious transactions, (2)
detecting suspicious transactions, (3) compliance program requirements
for casinos and card clubs, and (4) specific areas in which additional
guidance would be helpful.
    The meetings are not intended as a substitute for FinCEN's request
for written comments in the notice of proposed rulemaking published May
18, 1998. Rather, the meetings are intended to help make the comment
process as productive as possible by providing a forum between the
industry and FinCEN concerning issues relating to the proposed
regulations. The meetings will be open to the public and will be
recorded. A transcript of the meetings will be available for public
inspection and copying. Accordingly, oral or written material not
intended to be disclosed to the public should not be raised at the
meetings.

    Dated: July 2, 1998.
Stephen R. Kroll,
Federal Register Liaison Officer, Financial Crimes Enforcement Network.
[FR Doc. 98-18126 Filed 7-8-98; 8:45 am]
BILLING CODE 4820-03-P
