Bank Secrecy Act/Anti-Money Laundering [Paperback]by Lilian B KleinThis book is OUT OF PRINT You may be able to find a copy at ABE Books Description of Bank Secrecy Act/Anti-Money LaunderingThe Currency and Foreign Transactions Reporting Act, also known as the Bank Secrecy Act (BSA), and its implementing regulation, 31 CFR 103, is a tool the U.S. government uses to fight drug trafficking, money laundering, and other crimes. Congress enacted the BSA to prevent banks and other financial service providers from being used as intermediaries for, or to hide the transfer or deposit of money derived from, criminal activity. The Office of the Comptroller of the Currency (OCC) monitors national bank compliance with the BSA and 31 CFR 103. Since its passage, Congress has amended the BSA a number of times to enhance law enforcement effectiveness. The Anti-Drug Abuse Act of 1986, which included the Money Laundering Control Act of 1986 (MLCA), strengthened the government's ability to fight money laundering by making it a criminal activity.The Money Laundering Suppression Act of 1994 (Title IV of the Riegle-Neal Community Development and Regulatory Improvement Act of 1994) required regulators to develop enhanced examination procedures and increase examiner training to improve the identification of money laundering schemes in financial institutions.People who bought this book also bought Executive Roadmap to Fraud Prevention and Internal Controls by Martin T. Biegelman and Joel T. Bartow Title Information
Write a review of this book Customer Reviews from AmazonContents of Bank Secrecy Act/Anti-Money LaunderingPrefaceIntroduction OCC Initiatives Penalties Asset Forfeiture Internal BSA Compliance Programs Exemptions from the CTR Filing Requirements Suspicious Activity Reporting Requirements Opening and Maintaining Accounts and Customer Relationships High-Risk Areas Common Money Laundering Schemes Reporting to Treasury The Office of Foreign Assets Control Examination Procedures General Procedures Quality of Risk Management Quantity of Risk Conclusions; Appendix A: FinCEN Policy Statements and Guidelines; Appendix B: Bank Secrecy Act Databases; Appendix C: Referring BSA Violations to FinCEN; Appendix D: Availability of Office of Foreign Asset Control Information; Appendix E: Basle Supervisors' Committee Statement of Principles on Money Laundering References Index. |
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