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Bank Secrecy Act Related Links
Bank Secrecy Act - Increased Use of
Exemption Provisions Could Reduce Currency Transaction Reporting (CTR) While Maintaining
Usefulness to Law Enforcement Efforts - The Government Accountability Office
(GAO) report to congressional committees on the usefulness of CTRs to law enforcement,
the costs of meeting CTR requirements to depository institutions, and ways to encourage
use of exemptions to avoid unnecessary CTRs.
BSA: A Year in Review and Setting the Table for 2007 - A webinar cohosted
by JoAnn Johnson, Chairman of the National Credit Union Administration, and Jamal
El-Hindi, Associate Director of Regulatory Policy and Programs Division at the Financial
Crimes Enforcement Network (FinCEN). This webinar is aimed at providing information
and guidance to credit unions on their BSA obligations.
The Financial Crimes Enforcement Network (FinCEN)
- FinCEN, a bureau of the U.S. Treasury, is the delegated administrator of the BSA.
In this capacity, FinCEN issues regulations and interpretive guidance, provides
outreach to regulated industries, supports the examination functions performed by
federal banking agencies and pursues civil enforcement actions when warranted.
There are several ways to contact the Financial Crimes Enforcement Network. The
following contact information is provided to help direct your inquiries to the appropriate
offices and/or personnel.
General Information
(703) 905-3591 (Monday thru Friday, 8:30 a.m. - 8:00 p.m., E.S.T.)
- For the general public with questions about the Financial Crimes Enforcement Network,
its policies and programs.
Regulatory Toll-Free Helpline
1-800-949-2732 (Monday thru Friday, 8:00 a.m. - 5:00 p.m., E.S.T.)
- For financial institutions with questions relating to Bank Secrecy Act and USA PATRIOT
Act requirements and forms.
Financial Institutions Toll-Free Hotline
1-866-556-3974 (7 days a week, 24 hours a day)
- For financial institutions wanting to report suspicious transactions that
may relate to terrorist activity. The purpose of the hotline is to facilitate
the immediate transmittal of this information to law enforcement
While not an inclusive list, links to several reports on FinCEN’s website are provided
below. You are encouraged to visit FinCEN’s home page for an inclusive list
of all BSA related resources.
- SAR Activity Review -
By the Numbers: A compilation of numerical data gathered from Suspicious Activity
Reports filed by depository institutions certain money services, casinos and card
clubs, and certain segments of the securities and futures industries.
- 314(a) Information Requests:
FinCEN regularly requests credit unions search records for persons that may
be involved in terrorism or money laundering. Requests are sent to points
of contact (POCs) at credit unions. If you need to change your POC, please
file an amended Call Report with the updated information.
Money Services Business (MSB) website:
U.S. Money Laundering
Threat Assessment (MLTA): The MLTA offers a detailed analysis of money
laundering methods in the United States, ranging from well-established techniques
for integrating dirty money into the financial system to modern innovations that
exploit global payment networks as well as the Internet.
2007 National Money Laundering
Strategy: The 2007 Strategy addresses the priority threats and vulnerabilities
identified by the Money Laundering Threat Assessment released in 2006.
Financial Action Task Force (FATF)
Reports: The Financial Action Task Force (FATF) is an inter-governmental
body whose purpose is the development and promotion of national and international
policies to combat money laundering and terrorist financing.
While not inclusive, the following links are provided to reports issued by FATF.
It is recommended you visit the FATF website to review all information provided.
High Intensity Financial Crimes Areas
(HIFCAS): This is a means of concentrating law enforcement
efforts at the federal, state and local levels in high intensity money laundering
zones.
High Intensity Drug Trafficking
Areas (HIDTAs) – HIDTAs are areas within the United States that exhibit
serious drug trafficking problems and harmfully impact other areas of the country.
International Narcotics Control Strategy
Report (INCSR), published annually by the U.S. State Department
identifies major money laundering countries and jurisdictions.
Cornerstone : A U.S.
Immigration and Customs Enforcement’s (ICE) comprehensive investigative initiative
for fighting financial crime, trade fraud and intellectual property crime. The Cornerstone
Report is a quarterly bulletin highlighting key issues related to ICE financial
and trade investigations.