The Financial Crimes Enforcement Network (FinCEN) announced today that it has begun itspilot testing of the Patriot Act Communications System (PACS). PACS is designed to allowparticipating financial institutions to quickly and securely file Bank Secrecy Act (BSA) reportsover the Internet. Phase…
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The Treasury Department today issued and sent to the Federal Register for publication a proposed rule implementing Section 312 of the USA PATRIOT Act.
Section 312 requires certain U.S. financial institutions to take prescribed anti-money laundering measures with respect to correspondent…