WASHINGTON— In a ceremony held at the U.S. Department of the Treasury today, the Financial Crimes Enforcement Network (FinCEN) recognized the outstanding efforts of law enforcement agencies that successfully used Bank Secrecy Act (BSA) reporting in their criminal investigations. The BSA’s recordkeeping and reporting requirements help to create a financial trail that law enforcement agencies use to track criminals, their activities, and their assets.
The Financial Crimes Enforcement Network (“FinCEN”) reminds financial institutions and their customers that the final rule, “Customer Due Diligence Requirements for Financial Institutions” (the CDD Rule) becomes effective today.
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FinCEN is the U.S. Financial Intelligence Unit