Banks get exemption from reporting crime-tip reward payments
H.R. 6029 — To amend the Bank Secrecy Act to exempt transactions with respect to cash reward payments by crime stopper organizations from certain currency transaction reports. · Filed by Michael Guest (R-MS) · 2 cosponsors · Introduced Nov 12, 2025 · Referred to committee
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What it does
This bill exempts banks from reporting certain cash transactions to the Treasury when those transactions involve crime stopper organizations paying cash rewards for tips about crimes. Currently, banks must report all cash transactions over $10,000 (currency transaction reports); this bill carves out an exception for reward payments by nonprofit crime-tip organizations.
Why we flagged it
The bill's sole function is to narrow the scope of mandatory currency transaction reporting under the Bank Secrecy Act by creating a specific exemption for crime stopper reward payments. It is a targeted regulatory exemption, not a broader policy reform.
What the text implies
- Exemption applies to all nonprofit crime stopper organizations meeting the statutory definition, potentially including organizations with minimal vetting or oversight standards.
- Removes Treasury's visibility into cash reward flows, which could be exploited to move funds through crime-tip payments while evading anti-money-laundering surveillance.
The full analysis lists 4 implications of this text.
Who stands to gain
nonprofit crime stopper organizations; depository institutions (reduced compliance burden)