Laws and Regulations

Financial Transactions Reporting Regulations of 2007

Under section 42 of the FTR Act the Attorney General may make regulations to give effect to the provisions of this Act, particularly for:

1. the requirements, policies and procedures for customer identification, record keeping and reporting obligations and internal controls under this Act;
2. where it is necessary to determine whether or not the amount of currency exceeds any prescribed amount, the manner and method of determining whether any cash denominated in a foreign currency is taken to be the equivalent in the domestic currency;
3. prescribing the relevant supervisory authority of a class of financial institution; or
4. prescribing forms and fees for the purposes of this Act.