ABSTRACT

Trends in Bank Secrecy Act/Anti-Money Laundering Enforcement [January 12, 2018]   [open pdf - 507KB]

"This report provides an overview of recent trends in the enforcement of BSA [Bank Secrecy Act], the principal U.S. anti-money laundering law regulating financial institutions. The report begins by providing general background information on BSA penalties and enforcement. The report concludes by discussing three recent trends that commentators have observed in BSA enforcement: (1) an increase in the frequency with which BSA enforcement actions involve an assessment of money penalties, and an increase in the size of those penalties, (2) an increased emphasis by regulators on the acceptance of responsibility by institutions entering into settlement agreements for BSA violations, and (3) an increased risk of individual liability for BSA violations."

Report Number:
CRS Report for Congress, R45076
Author:
Publisher:
Date:
2018-01-12
Copyright:
Public Domain
Retrieved From:
Via E-mail
Format:
pdf
Media Type:
application/pdf
URL:
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