Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums BSA/AML/CIP/OFAC Forum FinCEN 314(a) Facts
Thread Options
#370885 - 06/08/05 04:59 PM FinCEN 314(a) Facts
Anonymous
Unregistered

FinCEN posted 314(a) Facts on their web site as of 6/8/05.
http://www.fincen.gov/314afactsheet.pdf

I believe stopping just one terrorist is worth it - but only 2 convictions out of 20,321 positive matches?!

Return to Top
BSA/AML/CIP/OFAC Forum
#370886 - 06/08/05 10:00 PM Re: FinCEN 314(a) Facts
Princess Romeo Offline

Power Poster
Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
The cost/benefit ratio does seem a bit out of whack.
_________________________
CRCM,CAMS
Regulations are a poor substitute for ethics.
Just sayin'

Return to Top
#370887 - 06/10/05 08:23 PM Re: FinCEN 314(a) Facts
Anonymous
Unregistered

How can you measure the cost/benefit ratio. The cost could be lives.

Return to Top
#370888 - 06/10/05 08:29 PM Re: FinCEN 314(a) Facts
Snowqueen Offline
Diamond Poster
Snowqueen
Joined: Jun 2003
Posts: 2,289
dreaming of a warm beach......
I wonder if the names on the list are terrorists or are they money launderers, drug dealers, etc. Stopping just one terrorist is worth it.

Return to Top
#370889 - 06/13/05 01:22 PM Re: FinCEN 314(a) Facts
banjo Offline
Gold Star
Joined: Feb 2005
Posts: 299
Seems to me that the government could do a little better than 2 out of 20,000+. I sent in an exact match 8 months ago, and have yet to hear anything from it.

Return to Top
#370890 - 10/12/05 03:33 PM Re: FinCEN 314(a) Facts
Anonymous
Unregistered

I am sure the cases also take a long time to be completed. A terrorist charge is usually about 3 years to prosecute fully.

Return to Top

Moderator:  Andy_Z