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FAQs

What are monetary instruments?

Monetary instruments include:

1) U.S. or foreign coins and currency;
2) Travelers checks in any form;
3) Negotiable instruments (including checks, promissory notes, and money orders) that are either in bearer form, endorsed without restriction, made out to a fictitious payee, or otherwise in a form that the funds can be transferred to another;
4) Incomplete instruments (including checks, promissory notes, and money orders) signed, but with the payee’s name omitted; and
5) Securities or stocks in bearer form or otherwise in a form which ownership can be transferred to another.

However, the term “monetary instruments” does not include:
1) Checks or money orders made payable to the order of an individual or entity which have not been endorsed or which bear restrictive endorsements;
2) Warehouse receipts; or
3) Bills of lading.

Where can the currency reporting laws be found?

Reporting is required under the Currency and Foreign Transactions Reporting
Act of 1970 (better known as the Bank Secrecy Act) (31 U.S.C. § 5311,
et seq.), as amended. Failure to comply can result in civil and criminal penalties and may lead to seizure and forfeiture of your monetary instruments.

Latest Case Results

Case Study: Successful Money Seizure Recovery of $56,741.00 Seized at Houston International Airport

A typical currency case is as follows: Introduction Person Z was traveling through Houston International Airport upon arrival from Beijing, China. She was traveling with $56,741.00 in U.S. currency. She was...

July 25, 2014 Read More