Dear Representative Guest,
I am writing on behalf of the members of the Fraternal Order of Police to advise you of our support for H.R. 6029, which would amend the Bank Secrecy Act to exempt transactions with respect to cash reward payments by crime stopper organizations from certain currency transaction reports.
Crime Stoppers is a crucial force multiplier for law enforcement by providing people with the means to anonymously share any information they have about crimes committed. In turn, these tips lead to tracking down people of interest and ultimately keeping communities safe.
Currently, some Crime Stoppers programs are having trouble working with banks due to the Bank Secrecy Act, with banks concerned that helping to pay anonymous rewards may create Federal reporting or compliance issues. Consequently, some banks have stopped working with Crime Stoppers programs, thereby creating barriers for Crime Stoppers to pay approved rewards while still protecting the tipster’s identity. If Crime Stoppers cannot protect anonymity, fewer people may be willing to assist due to fear of reprisal.
This legislation would help bridge this gap by amending the Bank Secrecy Act to provide protection to banks that process approved Crime Stoppers reward payments. As a result, Crime Stoppers programs can continue to properly operate while ensuring identities remain protected.
On behalf of the more than 382,000 members of the Fraternal Order of Police, I thank you for your leadership on this issue. If you need any further information about our support for this legislation, please do not hesitate to contact me or Executive Director Jim Pasco in our Washington, D.C. office.
Sincerely,
Patrick Yoes
National President