Statement Issued on Enforcement of Bank Secrecy Act/Anti-Money Laundering Requirements - Circulars

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Circular

Statement Issued on Enforcement of Bank Secrecy Act/Anti-Money Laundering Requirements

July 19, 2007

Circular No. 11881

The federal financial regulatory agencies have issued a statement setting forth the agencies’ policy for enforcing specific anti-money laundering requirements of the Bank Secrecy Act (BSA).

The purpose of the Interagency Statement on Enforcement of Bank Secrecy Act/Anti-Money Laundering Requirements is to provide greater consistency among the agencies in enforcement decisions in BSA matters and to offer insight into the considerations that form the basis of those decisions.

The statement complements the Bank Secrecy Act/Anti-Money Laundering Examination Manual, which was similarly designed to foster interagency consistency and transparency regarding the BSA examination process.

See the Board’s press release for full details.

Press release OFFSITE

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