Under this proposal, the Currency and Monetary Instrument Report (CMIR), which is most often completed by individuals upon physically crossing the border into the United States, would be exempted from the E-filing obligation.
The greater use of BSA E-Filing also assists Fin CEN in providing important information relevant to money laundering and terrorist financing investigations to law enforcement in the quickest manner possible.
Through BSA E-Filing, reports are available to and searchable by law enforcement in two days, rather than two weeks, for example if filed on paper.
- In an effort to improve efficiency, reduce costs for the financial industry, and enhance the ability of investigators, analysts, and examiners to gain better and more timely access to important financial information, the Financial Crimes Enforcement Network (Fin CEN) announced today a proposal that Fin CEN reports required under the Bank Secrecy Act (BSA) be filed electronically as from June 30, 2012.
Comments on this proposal are welcome for 60 days after its publication in the Federal Register."The benefits of E-Filing, both to the government and to the filer, are obvious and compelling," noted Fin CEN Director James H. "As more financial institutions migrate to E-filing, they will be impressed with the ease and convenience of using their basic Internet connections, while gaining immediate feedback to continually improve the quality and usefulness of the reported information in the effort to combat financial crimes."Electronic, or E-Filing of certain Fin CEN reports first became available in 2002.
The towers are now almost twice the size of what the Mayor and Council envisioned in 2013.” Ocean City hotelier Michael James, president and CEO of Hospitality Partners, LLC, also testified on behalf of the proposed legislation to set the distance at 26 miles.
“Visible turbines will be devastating to the resident and non-resident property owners in Ocean City with adverse and severe consequences,” he said.
We support the economic benefit to our neighbors to the west in Salisbury and West Ocean City.
We support all of these things, but not at the detriment to the Town of Ocean City.
“To put that in perspective, a cruise ship is about 150 feet tall,” he said.