Comments by FinCEN Director James H. Freis, Jr. on the Federal Financial Regulators’ Statement on BSA/AML Enforcement

Bank Secrecy Act (BSA)Financial Crimes Enforcement Network (FINCEN)Anti-Money Laundering

p>James H. Freis, Jr., Director of the Financial Crimes Enforcement Network (FinCEN), today issued the following statement about the federal financial regulatory agencies’ Interagency Statement on Enforcement of Bank Secrecy Act/Anti-Money Laundering Requirements.

“Today’s statement by the agencies is another positive step with respect to clarity and consistency in the implementation of the Bank Secrecy Act. It complements our joint efforts to make the BSA regulatory framework even more efficient for the regulated industries and still more effective for analytical and law enforcement purposes. We share a commitment to initiatives of this kind, as outlined by Secretary Paulson last month.”

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