On December 3, FinCEN and the Federal Reserve Board issued a final rule to amend the definitions of “funds transfer” and “transmittal of funds” under regulations implementing the Bank Secrecy Act. The agencies finalized the rule as proposed. The changes are intended to maintain the scope of the definitions following recent related amendments to the Electronic Fund Transfer Act, so as to avoid certain currently covered transactions being excluded from BSA requirements. The changes take effect January 3, 2014.