Bank Secrecy Act: Financial Institution Regulators' Compliance Examinations

摘要

The report contains an evaluation of how regulatory agencies assure compliance with the Currency and Foreign Transactions Reporting Act (also called the Bank Secrecy Act). It was found that regulatory agencies placed low priority on Bank Secrecy Act requirements during the agencies' examinations of financial institutions. This led to several problems which diminished the regulatory agencies' abilities to assure compliance with the act.