Financial Crimes Enforcement Network: Annual Report Fiscal Year 2005   [open pdf - 1MB]

"During the past year, the Financial Crimes Enforcement Network marked its 15th birthday. In those 15 years, we have been charged with growing responsibility for protecting the nation's financial system from the threats of terrorism and financial crime. Our accomplishments during the past year convince me that we are increasingly realizing our tremendous potential for contributing to the financial and national security of our country and of financial systems around the globe. In our role as Administrator of the Bank Secrecy Act, we took decisive steps toward ensuring more effective and uniform application of this important statute. We developed information-sharing agreements with Federal and state banking agencies that give us more comprehensive data than ever before on Bank Secrecy Act compliance. We also cooperated with regulatory agencies in ways that were not even conceived of a few years ago to promote more uniform examination procedures for compliance with the Bank Secrecy Act, faster and more consistent compliance activities, and joint action in cases of egregious violations of the law. To improve the management of data filed under the Bank Secrecy Act, we developed BSA Direct--a major initiative that will eventually collect, process, store, and disseminate all Bank Secrecy Act data. As the fiscal year ended, we were close to completing the initial phase of the system, which will provide authorized law enforcement and regulatory agencies with easier access to the Bank Secrecy Act data and enhanced ability to query and analyze that data."

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Financial Crimes Enforcement Network (U.S.): http://www.fincen.gov/
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