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ExpectMore.govExpectMore.gov home pageEXPECT FEDERAL PROGRAMS TO PERFORM WELL, AND BETTER EVERY YEAR.
 
Program Assessment

Program

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Bank Secrecy Act Analysis

This program's purpose is to combat terrorism, money laundering and other financial crime through analysis of Bank Secrecy Act (BSA) data and other relevant information, and to reduce global vulnerability of both the formal and informal financial sectors to abuse by terrorists and other criminals.

Rating

What This Rating Means

PERFORMING
Adequate

This rating describes a program that needs to set more ambitious goals, achieve better results, improve accountability or strengthen its management practices.
  • While the program has long-term performance measures in place, more time is needed to guage the usefulness and impact of the program's analysis activities.
  • FinCEN currently administers a survey to its customers to evaluate the impact and usefulness of its analytic reports, but more work is needed to develop a method for better assessing the law enforcement impact of FinCEN's analytic products.
  • Although the Treasury Office of Inspector General has recently conducted an evaluation of the program's internal processes in conducting analysis of BSA data, no evaluations to date have been conducted on the effectiveness of FinCEN's analysis of BSA data in combating terrorism, money laundering and financial crime.

Improvement Plan

About Improvement Plans

We are taking the following actions to improve the performance of the program:

  • Developing a plan to improve the survey response rate from domestic law enforcement.
  • Evaluating the feasibility of a better assessment of the law enforcement impact upon FinCEN's products
  • Developing measures of the impact of FinCEN's efforts to strengthen anti-terrorist financing and anti-money laundering programs worldwide.

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