2224

Seizure of Travelers' Checks

Immediately following seizure of travelers' checks, the seizing agency should notify the company issuing the checks that they have been seized for forfeiture and determine what procedures will be required in order to redeem the checks. If they can be redeemed prior to forfeiture, the seizing agency should take appropriate steps to liquidate the checks and have the issuing company issue a cashier's check to the Marshals Service. If liquidation cannot occur until after forfeiture, the seizing agency should turn the checks over to the Marshals Service with verification that the issuing company has been notified. The Marshals Service will accept custody of all traveler's checks that cannot be liquidated until after forfeiture. Upon receipt of a declaration of forfeiture, the Marshals Service will liquidate the asset in accordance with established procedures. [cited in USAM 9-111.600]