New IRS Team Provides Education to Combat Money Laundering - Susan Vega, a Bank Secrecy Act Specialist with the IRS

New IRS Team Provides Education to Combat Money Laundering
by Susan Vega, a Bank Secrecy Act Specialist with the IRS

The Taxpayer Education and Communication (TEC) Unit of the Small Business and Self-Employed Operation Division of Internal Revenue Service has a team of Bank Secrecy Act (BSA) specialists who are available to provide free educational products and services for your Money Services Business (MSB) customers.

The team provides education on MSB registration and anti-money laundering compliance programs, as well as the other reporting and recordkeeping provisions of the Bank Secrecy Act. For example, the BSA specialists are available to educate trades and businesses that handle cash transactions of more than $10,000 about their reporting requirement to the Department of Treasury. In addition, the BSA specialists can provide you with information to remind customers with interests in foreign financial accounts to report the accounts to the Department of Treasury if the value of the accounts exceeds $10,000. Products include "take one" cards that can be placed on counters and desks frequented by customers. The cards are free and available in English, Spanish, Korean, and Mandarin Chinese.

For more information, call the TEC BSA Specialist in your area call:

Alex Basden
(212) 719-6764
ME, NH, VT, MA, CT, RI, NY, PA, NJ, DE, MD, Washington DC Susan Vega
(954) 423-7777
VA, NC, SC, GA, FL, AL, MS, TN, AR, Puerto Rico

Theresa McGill
(630) 493-5190
WV, OH, KY, MI, IN, IL, MN, WI, IA, MO

F. Kim Buggs
(281) 721-8034
ND, SD, NE, KS, OK, TX, LA

Ulla Scott
(213) 576-3865
Los Angeles, S CA, NM, AZ, NV, UT, CO

Charlotte Kieliszek
(202) 283-0925
N CA, WY, MT, ID, WA, OR, AK, HI

You can find additional information about money laundering at these web sites: http://www.fincen.gov or http://www.msb.gov

First published on BankersOnline.com 5/30/05