By PAUL O’DONOGHUE, Senior Correspondent
THE US has withdrawn a proposal to lower the cross-border funds transfer reporting threshold from $3,000 to $250.
The decision leaves existing requirements unchanged. It also abandons a five-year-old proposal that would have brought more international payments and crypto transactions within the scope of the US Bank Secrecy Act (BSA).
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Source: www.amlintelligence.com
