Banks must begin complying with new wire transfer rules on May 28, the government announced last week.

The rules, which originally were scheduled to take effect April 1, require financial institutions to collect and keep information about funds transfers of $3,000 or more.

The information will provide a paper trail that law enforcement can use to track money laundering. The rules are being prepared by the Federal Reserve Board and the Treasury Department's Financial Crimes Enforcement Network.

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