The Costs of BSA Compliance and Law Enforcement Use of Data – Exploring the GAO Report
Featured Speakers :
Complimentary webinar, presented by ACFCS and the US GAO
In September, the US Government Accountability Office (GAO) issued an in-depth study of the implementation of the Bank Secrecy Act, one of key anti-money laundering and financial crime laws in the United States.
The report explores two issues that have long been at the center of conversations around BSA compliance – how BSA reporting is being used by law enforcement, and how much compliance may be costing financial institutions.
In this session, the GAO analysts that helped author the report will delve into their findings and describe the recommendations stemming from it. The presentation will cover:
- Ways that law enforcement uses BSA reports, and how FinCEN facilitates their use
- The BSA compliance costs of selected banks interviewed as part of the report
- Recommendations from the GAO to improve use of BSA reports
- Views from key stakeholders on potential changes to the BSA
- And more
This session is eligible for 1 CFCS credits.
Important note for ACFCS members: Please register using the same email address tied to your member account.