The Financial Crimes Enforcement Network issued a statement on its approach to enforcing Bank Secrecy Act rules and regulations.
FinCEN issues statement on BSA enforcement
August 19, 2020 / By ICBA
The Financial Crimes Enforcement Network issued a statement on its approach to enforcing Bank Secrecy Act rules and regulations.
The Financial Crimes Enforcement Network issued a statement on its approach to enforcing Bank Secrecy Act rules and regulations.
FinCEN said the statement aims to provide clarity and transparency to its approach when contemplating compliance or enforcement actions against covered financial institutions that violate the BSA.
It outlines the administrative actions available to FinCEN and the information it analyzes to determine the appropriate outcome to BSA violations.
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