Money Laundering: Treasury Civil Case Processing of Bank Secrecy Act Violations

摘要

In July 1991, the General Accounting Office(GAO), was tasked to provideinformation concerning the Department of the Treasury's Office of Financial Enforcement's processing of civil penalty referrals for violations of the Bank Secrecy Act. The Bank Secrecy Act(BSA) is a major weapon against money laundering because it requires that certain transactions over $10,000 be reported to federal agencies, thus making them easier to track. Because money laundering supports a wide range of illegal activities, full and vigorous enforcement of the Act is an essential component of this country's war on crime. The request specifically asked that the investigation focus on OPE's civil penalty workloads and the time that OPE takes to process referrals. As requested, this report transmits the official results of that requested investigation.