FinCEN Expansion of Special Info Sharing Procedures To Deter Money Laundering and Terrorist Activity

by Sabrina I. Pacifici on February 11, 2010

“FinCEN is issuing this final rule to amend the relevant Bank
Secrecy Act (BSA) information sharing rules to allow certain foreign law enforcement agencies, and State and local law enforcement agencies, to submit requests for information to financial institutions. The rule also clarifies that FinCEN itself, on its own behalf and on behalf of other appropriate components of the Department of the Treasury (Treasury), may submit such requests. Modification of the information sharing rules is a part of Treasury’s continuing effort to increase the efficiency and effectiveness of its anti-money laundering and counter-terrorist financing policies.” Federal Register: February 10, 2010 (Volume 75, Number 27)] [Rules and Regulations][Page 6560-6570]

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