[Federal Register Volume 60, Number 124 (Wednesday, June 28, 1995)]
[Notices]
[Page 33440]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-15767]
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POSTAL SERVICE
Cashing Domestic Postal Money Orders
AGENCY: Postal Service.
ACTION: Notice of procedure.
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SUMMARY: The Postal Service published a final rule in the Federal
Register on February 2, 1995, that restricted the negotiation of
domestic postal money orders to the United States and its possessions
and territories and to the Freely Associated States. 60 FR 7912-7913.
This final rule took effect March 1, 1995, and amended section 391.11
of the International Mail Manual, incorporated by reference in the Code
of Federal Regulations (see 39 CFR 20.1).
In response to this rule, the Postal Service will print domestic
postal money orders with the endorsement ``NEGOTIABLE ONLY IN THE U.S.
AND POSSESSIONS'' on the face (front) and reverse (back). This
restrictive endorsement will appear in bold, red lettering on the lower
right face and in bold, black lettering on the reverse.
These printing changes to the domestic postal money order do not
alter current regulations established by the final rule. In addition,
current domestic postal money orders printed without this restrictive
endorsement will continue to be valid and negotiable for international
use.
The Postal Service intends to charge back any domestic postal money
order bearing the restrictive endorsement accepted by a bank in any
foreign country that is not identified as a U.S. possession or
territory or as part of the Freely Associated States. This charge will
be handled in accordance with the standard commercial banking
procedures in the United States.
EFFECTIVE DATE: June 28, 1995.
FOR FURTHER INFORMATION CONTACT: Al Gillum, (703) 905-3818.
SUPPLEMENTARY INFORMATION: Because the Postal Service receives numerous
complaints from foreign postal administrations regarding the acceptance
of domestic postal money orders by the banking systems in those
countries, and because the domestic postal money order is being used in
international money laundering schemes, the Postal Service determined
to restrict the negotiation of domestic postal money orders to the
United States and its possessions and territories and to the Freely
Associated States. This change prevents the practice of circumventing
the policies and procedures for the acceptance of international postal
money orders agreed to within the Universal Postal Union, and minimizes
the use of domestic postal money orders in international money
laundering activities.
The Postal Service is committed to complying with the agreements
with its foreign partners, and to taking proactive measures to minimize
the use of its products and services in illegal activities. A concerted
effort is being made to restrict the negotiation of domestic postal
money orders to the United States and its possessions and territories
and to the Freely Associated States.
U.S. possessions and territories are American Samoa (including
Manua Island, Swain's Island, Tutuila Island); Baker Island; Guam;
Howland Island; Jarvis Island; Johnston Island; Kingman Reef; Midway
Island; Navassa Island; Northern Marianas Islands (including Rota,
Saipan, and Tinian); Palmyra Island; Puerto Rico; Sand Island; U.S.
Virgin Islands (including St. Croix, St. John, and St. Thomas); and
Wake Island.
The Freely Associated States are Marshall Islands (including Ebeye
and Majuro Island); Palau (including Koror Island); and Micronesia
(including Chuuk (Truk) Island, Kosrae Island, Pohnepi Island, Yap
Island).
Stanley F. Mires,
Chief Counsel, Legislative.
[FR Doc. 95-15767 Filed 6-27-95; 8:45 am]
BILLING CODE 7710-12-P
