Saturday, February 1, 1986
Volume:
2
Issue:
2
Abstract:
In a case of first impression the U.S. Court of Appeals for the Ninth Circuit has held in United States v. Varbel that the Currency Transaction Reporting Act and the regulations promulgated thereunder do not require the appellants to inform the banks of the nature of their currency transactions. The court based its decision in part on the reading of the statute.