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The Financial Crimes Enforcement Network (FinCEN) is announcing that it will hold an informational Webinar on Wednesday, August 10, 2011, at 2:00 p.m. Eastern Time that will highlight to money services businesses (MSBs) the benefits of the Bank Secrecy Act Electronic Filing System (BSA E-Filing) and instruct MSBs on the simple process of signing up and using E-Filing.
On July 18, 2011, FinCEN announced that MSBs can now use the BSA E-Filing System to electronically submit initial registrations, renewals, corrections, and re-registrations electronically. MSBs can also electronically submit currency transaction reports and suspicious activity reports. Because E-Filing reduces the processing times, MSBs that file electronically will receive acknowledgement letters more quickly than do those that file on paper. .
Electronically filing BSA information increases the timeliness of BSA data availability, reduces the cost of paper processing, streamlines BSA report submissions, improves both data quality and data security, and provides users with enhanced audit and recordkeeping capabilities. The BSA E-Filing system is a free, Web-based system that is user-ID and password protected. Financial institutions may use the system to electronically file a variety of BSA forms through a FinCEN secure network. More importantly, when an institution submits a form through the E-Filing system, it is more quickly available to, and searchable by, law enforcement.
During this Webinar, FinCEN representatives will discuss the following topics:
- Overview of the BSA E-Filing System;
- BSA reports available for E-Filing;
- Feedback reports available to E-Filers;
- How to enroll in BSA E-Filing;
- Single report or discrete filing; and
- Multiple report or batch filing.
FinCEN strongly encourages MSBs that are still filing any paper forms to register for this Webinar. FinCEN's recent enhancements to BSA E-Filing support the U.S. Department of the Treasury's initiative of moving toward a paperless Agency, referred to in the Department's Open Government Plan. FinCEN is committed to making efficient use of technology, such as webinars, to better inform financial professionals and the public about its activities designed to better protect the financial system from criminal abuse.
BSA E-Filing 101 Webinar
Date: Wednesday, August 10, 2011
Time: 2:00 p.m. ET
After registering you will receive a confirmation email containing information about joining the
Webinar.
PC-based attendees will require: Windows® 7, Vista, XP, 2003 Server or 2000
Macintosh®-based attendees will require: Mac OS® X 10.4.11 (Tiger®) or newer
Space is limited, so sign up now at https://www2.gotomeeting.com/register/612718611
For more information on the Egmont Group and FinCEN's international activities, visit http://www.egmontgroup.org and https://www.fincen.gov/resources/international-programs