Editing Stored-value card (section)

==Money laundering==
It is common for countries to place limits on how much currency may be taken out of or brought into a country. However, these limits generally do not apply to money leaving a country in non-cash forms such as on stored-value cards. There is concern that stored-value cards can be used for [[money laundering]], that is, moving offshore funds derived from criminal activities such as [[Illegal drug trade|drug trafficking]]. There are reports of these cards being used by Mexican drug cartels to transfer money across borders.<ref>{{cite web|url=https://www.justice.gov/ndic/pubs11/20777/index.htm|title=Assessment: Prepaid Stored Value Cards|date=October 31, 2006|publisher=[[National Drug Intelligence Center]]|access-date=December 16, 2009|location=Johnstown, PA}}</ref>

For example, in the [[United States]], it is legal for anyone to enter or leave the country with money that is stored on cards, and (unlike cash in high amounts) does not have to be reported to [[customs]] or any other authority. Some members of the [[United States Congress|U.S. Congress]] are considering creating laws that would require travelers crossing, entering, or leaving the country to report these cards.<ref>{{cite web |url=http://blogs.reuters.com/great-debate/2010/03/26/drugs-terrorism-and-shadow-banking/ |archive-url=https://web.archive.org/web/20100329132820/http://blogs.reuters.com/great-debate/2010/03/26/drugs-terrorism-and-shadow-banking/ |archive-date=March 29, 2010 |agency=Reuters |date=March 26, 2010 |title=Drugs, terrorism and shadow banking}}</ref> The [[Financial Crimes Enforcement Network]] of the [[United States Department of the Treasury|U.S. Department of the Treasury]] has published a notice of proposed rulemaking on stored-value cards in the June 28, 2010 edition of the ''[[Federal Register]]''. The proposed rules would require sellers of prepaid cards to register with the government and keep records on transactions and customers.<ref>{{Cite journal | title=Financial Crimes Enforcement Network; Amendment to the Bank Secrecy Act Regulations-Definitions and Other Regulations Relating to Prepaid Access | date=2010-06-28 | journal=Federal Register | volume=75 | number=123 | url=https://edocket.access.gpo.gov/2010/pdf/2010-15194.pdf | access-date=2024-12-15}}</ref>{{Update inline|reason=And the result of this NoPR was?|date=February 2017}}