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Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

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FinCEN statement on BSA enforcement

On August 14, we reported on a joint statement from the federal banking regulatory agencies on Enforcement of Bank Secrecy Act/Anti-Money Laundering Requirements. In their announcements of the joint statement, the agencies reported that FinCEN had issued a Statement on Enforcement of the Bank Secrecy Act. FinCEN released its statement yesterday (AugustĀ 18).

FinCEN's Statement on Enforcement of the Bank Secrecy Act was issued to provide clarity and transparency to FinCEN's approach when considering compliance or enforcement actions against covered financial institutions that violate the BSA. The statement outlines the administrative actions available to FinCEN, and provides an overview of the information FinCEN analyzes in order to determine the appropriate outcome to violations of the BSA.

In its announcement, FinCEN encouraged financial institutions to voluntarily and promptly report violations, and to candidly and completely cooperate with any investigation.

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