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#2297424 - 05/21/24 04:32 PM CTA and BSA
praBSA Offline
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Joined: Aug 2018
Posts: 355
I try to stay consistently informed via FinCEN's email list, webinars and podcasts and the like.

Has anyone seen any update in relation to the CTA and access to the BOSS system for banks? It's May and I haven't seen guidance for us on a day to day basis.

I'm expecting us to add a disclosure for access to account opening agreements, internal procedures for EDD and access, etc. among other things.

Did I miss any updates or are we still waiting?

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#2297425 - 05/21/24 04:37 PM Re: CTA and BSA praBSA
BrianC Offline
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BrianC
Joined: Nov 2004
Posts: 6,866
Illinois
FinCEN doesn't anticipate rolling out access for financial institutions until the Spring of 2025. Before we start making wholesale changes to disclosures, I'd recommend waiting for a notice of proposed rulemaking to revise or replace the 2018 Customer Due Diligence Rules so we know exactly what expectations we will have (if any) for accessing information contained in the BOSS.
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#2297426 - 05/21/24 04:39 PM Re: CTA and BSA praBSA
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 84,530
Galveston, TX
Brian is of course correct: https://www.fincen.gov/boi-faqs#O_6
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