September 2005

Chairman Bachus, Ranking Member Sanders and distinguished members of the Subcommittee, I appreciate the opportunity to appear before you today to discuss your efforts to balance the burdens imposed on the financial industry by the requirements of the Bank Secrecy Act of 1970, specifically, providing the government with highly relevant information that assists law enforcement in making our financial system more transparent and our country safer.

Good morning. Chairman Froomkin, Professor Rider, distinguished colleagues, ladies and gentlemen, I am honored to be a part of the 23rd annual Cambridge Symposium on Economic Crime and to share keynote responsibilities this morning with this distinguished panel of officials and experts in this field. True to the tradition of this great University, this Symposium is known the world over for its depth of intellectual pursuit of ways to address economic crime.