- Description
- ii, 48 p. : digital, PDF file.
- Summary
- To assist law enforcement agencies in their efforts to combat money laundering, terrorist financing, and other financial crimes, the Bank Secrecy Act (BSA) requires financial institutions to file suspicious activity reports (SAR) to inform the federal government of transactions related to possible violations of law or regulation. Depository institutions have been concerned about the resources required to file SARs and the extent to which SARs are used. GAO was asked to examine (1) factors affecting the number of SARs filed, (2) actions agencies have taken to improve the usefulness of SARs, (3) federal agencies' use of SARs, and (4) the effectiveness of the process used to revise SAR forms. GAO reviewed laws and agency documents; analyzed SAR filings; and interviewed representatives from the Financial Crimes Enforcement Network (FinCEN), law enforcement agencies, bank regulators, and depository institutions. GAO recommends that the Secretary of the Treasury direct FinCEN to further develop a strategy that fully incorporates certain GAO-identified practices to enhance and sustain collaboration among federal agencies into the forms-change process.
- Alternative Title
- Bank Secrecy Act : suspicious activity report use is increasing, but Financial Crimes Enforcement Network (FinCEN) needs to further develop and document its form revision process
- Suspicious activity report use is increasing, but FinCEN needs to further develop and document its form revision process
- Suspicious activity reports
- Subject
- Note
- Title from title screen (viewed on Apr. 21, 2009).
- "February 2009."
- "GAO-09-226."
- 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 4/21/09: http://www.gao.gov/new.items/d09226.pdf ; current access available via PURL.
- Call Number
- GPO Internet GA 1.13:GAO-09-226
- OCLC
- 318927759
- Author
United States. Government Accountability Office.
- Title
Bank Secrecy Act [electronic resource] : suspicious activity report use is increasing, but FinCEN needs to further develop and document its form revision process : report to congressional requesters.
- 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 4/21/09: http://www.gao.gov/new.items/d09226.pdf ; current access available via PURL.
- Bibliography
Includes bibliographical references.
- Connect to:
- Running Title
Suspicious activity reports
- Gpo Item No.
0546-D (online)
- Sudoc No.
GA 1.13:GAO-09-226
- Research Call Number
GPO Internet GA 1.13:GAO-09-226