FinCEN Update

William Langford, Senior Policy Analyst at FinCEN, briefed ABA's NRC audience on developments at FinCEN. The agency's major emphasis right now is to improve the anti-money laundering efforts and to improve networking. In addition, the Treasury Department is expected to produce more information that will support the anti-money laundering efforts.

FinCEN is more than pleased with the banking industry's work product and simply expects "continued commitment" from the industry. He warned the audience not to become complacent. Continued vigilance is essential.

Copyright © 2004 Compliance Action. Originally appeared in Compliance Action, Vol. 9, No. 7, 7/04