What type of transactions does the BSA's "Travel Rule" primarily cover?

The BSA's "Travel Rule" primarily covers fund transfers of $3,000 or more because it requires that certain information be included in the transmittal of funds. This rule is designed to help law enforcement with tracing funds and identifying individuals involved in suspicious activities. Specifically, when financial institutions engage in wire transfers or other similar types of transactions that meet the threshold, they must collect and transmit certain identifying information about both the sender and the recipient. This facilitates greater transparency and reduces the potential for money laundering or other illicit activities, aligning with the BSA's goals of combating financial crimes.

The other types of transactions mentioned do not fall under the provisions of the Travel Rule in the same way. Credit card transactions, while they may involve funds transfer, are governed by different regulations. Checks, similarly, have their own regulatory framework and are not included under the Travel Rule requirements. ATM withdrawals do not require the same level of reporting and do not typically involve the transmittal of funds in a manner that would necessitate the same level of detail outlined in the Travel Rule.