- Additional Authors
- United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Permanent Subcommittee on Investigations.
- Description
- iv, 103 p. : digital, PDF file.
- Summary
- The legislative framework for combating money laundering began with the Bank Secrecy Act (BSA) in 1970 and most recently expanded in 2001with the USA PATRIOT Act. The Financial Crimes Enforcement Network (FinCEN) administers BSA and relies on multiple federal and state agencies to ensure financial institution compliance. GAO was asked to (1) describe how BSA compliance and enforcement responsibilities are distributed, (2) describe how agencies other than FinCEN are implementing those responsibilities and evaluate their coordination efforts, and (3) evaluate how FinCEN is implementing its BSA responsibilities. Among other things, GAO reviewed legislation, past GAO and Treasury reports, and agreements and guidance from all relevant agencies; and interviewed agency, association, and financial institution officials. GAO recommends that IRS better coordinate examination schedules with state agencies; that FinCEN, the federal financial regulators, and IRS consider developing a mechanism to regularly discuss BSA examinations and procedures across all regulators; and that the FinCEN Director facilitate communication on IRS referrals, and finalize electronic data-access MOUs with state agencies and securities and futures regulators.
- Alternative Title
- Federal agencies should take action to further improve coordination and information-sharing efforts
- Subject
- Note
- Title from title screen (viewed on Mar. 18, 2009).
- "February 2009."
- "GAO-09-227."
- Bibliography (note)
- Includes bibliographical references.
- System Details (note)
- System requirements: Adobe Acrobat Reader.
- Mode of access: World Wide Web from GAO web site. Address as of 3/18/09: http://www.gao.gov/new.items/d09227.pdf ; current access available via PURL.
- Call Number
- GPO Internet GA 1.13:GAO-09-227
- OCLC
- 316237928
- Author
United States. Government Accountability Office.
- Title
Bank Secrecy Act [electronic resource] : federal agencies should take action to further improve coordination and information-sharing efforts : report to the Permanent Subcommittee on Investigations, Committee on Homeland Security and Governmental Affairs, U.S. Senate.
- Imprint
[Washington, D.C.] : U.S. Govt. Accountability Office, [2009]
- System Details
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web from GAO web site. Address as of 3/18/09: http://www.gao.gov/new.items/d09227.pdf ; current access available via PURL.
- Bibliography
Includes bibliographical references.
- Connect to:
- Added Author
United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Permanent Subcommittee on Investigations.
- Gpo Item No.
0546-D (online)
- Sudoc No.
GA 1.13:GAO-09-227
- Research Call Number
GPO Internet GA 1.13:GAO-09-227