(a) Any financial business, as this term is defined in subsection (c), and every broker shall file a report to the Secretary under such regulations and in such form, manner, and extent as prescribed by him/her through regulations, of each deposit, withdrawal, currency exchange, payment, investment, transfer, or purchase and sale of securities made by, through, or from said financial business or broker, which involves a transaction in currency in excess of ten thousand dollars ($10,000). This report shall contain the taxpayer’s name, street and/or mailing address, and account number, and the amount of the transaction or the total sum of the transactions, in the event that more than one transaction per person has been made within a thirty-one (31)-day period. The financial businesses and the brokerage houses shall exercise the highest degree of diligence in fulfilling the obligation imposed above.(b) For purposes of this section, the term 'currency transaction' shall mean any physical transfer of legal tender in the United States, or a foreign country.(c) For purposes of this section, the term 'finance business' shall mean and include every agency, branch, office, or establishment

transfer of legal tender in the United States, or a foreign country.(c) For purposes of this section, the term 'finance business' shall mean and include every agency, branch, office, or establishment of any person doing business in the Commonwealth of Puerto Rico, in one or more of the following capacities:(1) A commercial bank or trust company.(2) A private bank.(3) A savings and loan association or a building and loan association.(4) An insured institution as defined in Section 401 of the National Housing Act.(5) A savings bank, industrial bank, or other savings or financial institution.(6) A credit union.(7) A savings and credit union.(8) A securities or brokerage house.(9) Institutions engaged in making mortgage loans, commonly known as mortgage banks or mortgage brokers.(10) Any other entity organized or authorized under the banking or financial laws of the Government of Puerto Rico, the United States of America, of any state of the Union, or a foreign country.(d) For purposes of this section, financial institutions and brokerage houses shall comply with the requirements established herein by filing with the Department of the Treasury a true and exact copy of the report on

of this section, financial institutions and brokerage houses shall comply with the requirements established herein by filing with the Department of the Treasury a true and exact copy of the report on transactions in currency that they must file with the U.S. Department of the Treasury pursuant to the requirements established by Public Law No. 91-508 of October 26, 1970, known as the 'Bank Secrecy Act', as amended, and codified by Public Law 97-258 of September 13, 1982, or any subsequent law that replaces it. History —Jan. 31, 2011, No. 1, § 1063.02, retroactive to Jan. 1, 2011; Dec. 10, 2011, No. 232, § 75.