BSA Filing Relief May Be on the Way

Sandman, John
March 2008
Securities Industry News;3/3/2008, Vol. 20 Issue 9, p13
Trade Publication
The article discusses a report by the U.S. General Accountability Office (GAO) on the value of the currency transaction reports (CTR) filings, which are required under the anti-money laundering (AML) provisions of the Bank Secrecy Act (BSA). The BSA explained that CTR record cash withdrawals and deposits, currency exchanges and wire transfers purchased with cash for the amount of more than $10,000. The limitation of the CTR in preventing certain money-laundering strategies is considered.


Related Articles

  • Up-front due diligence detects risks before committing. Cocheo, Steve // ABA Banking Journal;Apr2010, Vol. 102 Issue 4, p44 

    The article discusses the benefits of exercising diligence in determining risks before taking in a customer. It states that diligence benefits the bank's compliance to Bank Secrecy Act/Anti-Money-Laundering. It notes that due diligence for customer review begins with the verification of identity...

  • Patriot Act Rule Produces Mixed Banking Reactions. Kelly, Ryan // Grand Rapids Business Journal;8/2/2004, Vol. 22 Issue 32, p10 

    Reports on the amendment approved by the U.S. Congress on the Bank Secrecy Act under the U.S. Patriot Act. Need of financial institutions to create anti-money laundering compliance programs; Property asset used by terrorist to launder money; Commentary from Dan Heikkinen, senior vice president...

  • OCC Releases Changes to BSA/AML Examiner Policies.  // BSA/AML Update;10/15/2012, Vol. 8 Issue 20, p5 

    The article reports on a bulletin released by the Online Compliance Consortium (OCC) which summarizes the refinement made to its guidance with respect to the Bank Secrecy Act/Anti-money Laundering (BSA/AML) examiner policies in the U.S. It states that changes to BSA/AML policies were explained...

  • Suspicious Activity Filings At Record Pace in 1st Half. Blackwell, Rob // American Banker;11/21/2006, Vol. 171 Issue 224, p4 

    The article looks at how banks in the U.S. are on a pace to file a record number of suspicious activity reports for 2006 and examines data released by the U.S. Financial Crimes Enforcement Network. The article discusses filings on suspicion of identity theft and violations of the Bank Secrecy...

  • Combating Money Laundering in Nigeria: An Appraisal of the Money Laundering Prohibition Act 2004. Okogbule, Nlerum S. // Statute Law Review;Jul2007, Vol. 28 Issue 2, p156 

    The article discusses the Anti-Money Laundering Prohibition Act 2004 of Nigeria. It explores the function of the Financial Action Task Force (FATF) to combat money laundering and in suggesting national legislation and spearheading proactive measures. It notes the existence of loopholes on the...

  • FinCEN Updates FAQs on Electronic SAR and CTR.  // Credit Union Regulatory Compliance Report;Jul2013, Vol. 20 Issue 7, p2 

    The article presents questions and answers related to confidential communications in banking, including how to log in on the suspicious activity reports (SAR), and currency transaction reports (CTR), where to save reports, and how to obtain a copy of SAR filed in the BSA E-Filing System.

  • U.S. and International Anti-Money Laundering Developments. REIDER-GORDON, MIKHAIL // International Lawyer;Spring2011, Vol. 45 Issue 1, p365 

    The article focuses on the U.S. and international anti-money laundering (AML) developments in 2010. It mentions that the U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act is likely to impact existing federal oversight of AML, with Private Fund Investment Advisors Registration Act of...

  • BSA/AML Exam Manual Revised.  // Credit Union Magazine;Jun2010, Vol. 76 Issue 6, p46 

    The article reports on the revised Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual issued by the U.S. Federal Financial Institutions Examination Council (FFIEC).

  • Fed and NY Regulators Allege Major BSA Lapses at HSBC.  // BSA/AML Update;6/1/2012, Vol. 8 Issue 11, p6 

    The article focuses on the violation of the U.S. Bank Secrecy Act and other anti-money laundering laws by HSBC Bank USA NA. It discusses a review of confidential documents investigating HSBC's U.S. operations by two Attorneys' offices including William J. Ihlenfeld II, attorney for the Northern...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics