BANK SECRECY ACT: FinCEN Needs to Further Develop Its Form Revision Process for Suspicious Activity Reports

April 2010
GAO Reports;4/28/2010, preceding p1
Government Documents
The article reports on the new process for revisions of Bank Secrecy Act (BSA) forms such as Suspicious Activity Reports (SAR) developed by the U.S. Financial Crimes Enforcement Network (FinCEN). It says that the process may increase collaboration with law enforcement agency representatives, prosecutors, and stakeholders. Moreover, the FinCEN plans to have a focus group of Data Management Council (DMC) members to get feedback on how the new forms revision process works.


Related Articles

  • Detail on Proposed Revisions to SARs. Adler, Joe // American Banker;3/14/2006, Vol. 171 Issue 49, p3 

    This article reports on the Federal Deposit Insurance Corp. releasing information about proposed changes to the suspicious-activity report form. The revisions, which the Financial Crimes Enforcement Network and the federal regulators issued in February 2006, include instructions on how to file a...

  • Freis Defends Usefulness of BSA Data.  // BSA/AML Update;9/1/2011, Vol. 7 Issue 17, p7 

    The article discusses a speech by James H. Freis Jr., director of the U.S. Financial Crimes Enforcement Network (FinCEN), delivered at an anti-money laundering conference. He emphasized the usefulness of the Bank Secrecy Act (BSA) data because they are highly valuable and regularly used by law...

  • Agencies Report Successful Prosecutions.  // BSA/AML Update;2/1/2012, Vol. 8 Issue 3, p7 

    The article reports on the successful prosecutions rendered by law enforcement agencies in the U.S. including FinCEN, Internal Revenue Service, or the Justice Department. The cases are examples of criminal prosecutions that spring up out of suspicious activity reports (SARs) and currency...

  • GAO Recommends Better FinCEN Communication with LEAs.  // Bank Security Report;Jan2010, Vol. 39 Issue 1, p1 

    The article presents the U.S. Government Accountability Office's (GAO) report concerning the usefulness of the Financial Crimes Enforcement Network (FinCEN) to the federal law enforcement agencies' (LEAs) efforts to investigate and prosecute financial crimes. The report indicated that...

  • COMPLIANCE MATTERS: FinCEN Query Now Available for Authorized Users.  // BSA/AML Update;9/15/2012, Vol. 8 Issue 18, p1 

    The article reports on the availability of the U.S. Financial Crimes Enforcement Network's (FinCEN) Query for law enforcement and regulatory partners in 2012. It says that the said tool will allow authorized users to access and view data from FinCEN including its financial analysis and...

  • Rule trimming need for transaction reports falls short, banks say. Schulz, Matt // American Banker;8/8/1996, Vol. 161 Issue 151, p14 

    Reports on the rule of the United States Treasury Department's Financial Crimes Enforcement Network (Fincen) designed to reduce currency transaction report filings. Reactions of small banks; Suggestions for expansion of exemption process.

  • Mortgage Fraud Reports Rose. Hopkins, Cheyenne // American Banker;2/19/2010, Vol. 175 Issue F307, p12 

    The article reports that data from the U.S. Treasury Department's Financial Crimes Enforcement Network indicate reports from depositary institutions of suspicious activity increased in number during the third quarter of 2009.

  • Treasury crime fighters vow to ease banks' burden. Henry, Shannon // American Banker;2/23/1995, Vol. 160 Issue 36, p14 

    Reports on the Financial Crimes Enforcement Network's (Ficen) defense of its budget request for fiscal year 1996. Services to banks; Update of Ficen's computer system; Increased case load; Registration system for nonbank institutions.

  • Legal Clash Exposes Contradictions in Fed's Pot-Banking Rules. Cumming, Chris // American Banker;11/4/2015, Vol. 180 Issue 170, p0 

    The article reports on the guidelines adopted by the U.S. Federal Reserve System published in 2014 by the Justice Department and the Financial Crimes Enforcement Network which permit banks to serve marijuana businesses if they obey strict rules on oversight and reporting. The guidelines also ask...


Read the Article


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

Try another library?
Sign out of this library

Other Topics