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FinCEN’s Ruling on Armored Car Service CTRs

FinCEN has received significant feedback regarding the requirements to file CTRs with respect to armored car services (ACS). Financial institutions have raised concerns such as: the difficulty of obtaining personal information with respect to...

FinCEN Issues CTR and SAR FAQs (Part 2)

As a follow-up to my last blog post on some of the highlights from FinCEN’s FAQ on CTRs, I wanted to provide you with some highlights from FinCEN’s FAQ on SARs. I found these FAQs...

FinCEN Issues CTR and SAR FAQs (Part 1)

FinCEN recently released the following FAQs to help financial institutions complete and file the forms correctly: Frequently Asked Questions Regarding the FinCEN Suspicious Activity Report (SAR) Frequently Asked Questions Regarding the FinCEN Currency Transaction...

FinCEN Issues SAR Information

FinCEN released its 18th issue of its SAR Activity Review: “By The Numbers” and its 23rd Issue of SARs: “Trends, Tips &Issues” today. The documents are full of useful information with respect to filing...

CTRs

We have reached the day where the old legacy BSA forms are no longer accepted. So, to welcome the new forms in, I thought I would provide you all with a little insight into...

FinCEN Issues Reminder On New Forms

FinCEN issued a reminder to financial institutions to ensure they adopt the new reports by April 1, 2013. The reports are available on FinCEN’s e-filing system.  As stated by FinCEN:

NAICS Code

I thought I would take today to answer a question I have been asked several times when I am out conducting BSA Independent Tests.  On the new CTR form, what is the NAICS code?

FinCEN Releases Summary of CDD ANPR Roundtables

FinCEN recently released summaries of the roundtable meetings held in Las Angeles, New York, and Chicago to continue gathering information on the ANPR for customer due diligence requirements with respect to financial institutions.  The...