31 U.S.C. § 5325 : US Code - Section 5325: Identification required to purchase certain monetary instruments

Search 31 U.S.C. § 5325 : US Code - Section 5325: Identification required to purchase certain monetary instruments

(a) In General. - No financial institution may issue or sell a
bank check, cashier's check, traveler's check, or money order to
any individual in connection with a transaction or group of such
contemporaneous transactions which involves United States coins or
currency (or such other monetary instruments as the Secretary may
prescribe) in amounts or denominations of $3,000 or more unless -
(1) the individual has a transaction account with such
financial institution and the financial institution -
(A) verifies that fact through a signature card or other
information maintained by such institution in connection with
the account of such individual; and
(B) records the method of verification in accordance with
regulations which the Secretary of the Treasury shall
prescribe; or
(2) the individual furnishes the financial institution with
such forms of identification as the Secretary of the Treasury may
require in regulations which the Secretary shall prescribe and
the financial institution verifies and records such information
in accordance with regulations which such Secretary shall
prescribe.
(b) Report to Secretary Upon Request. - Any information required
to be recorded by any financial institution under paragraph (1) or
(2) of subsection (a) shall be reported by such institution to the
Secretary of the Treasury at the request of such Secretary.
(c) Transaction Account Defined. - For purposes of this section,
the term "transaction account" has the meaning given to such term
in section 19(b)(1)(C) of the Federal Reserve Act.