James H. Freis, Jr., Director of the Financial Crimes Enforcement Network (FinCEN), delivers speech to the Eighth Annual Florida International Bankers Association Anti-Money Laundering Compliance Conference

  • FinCEN director spoke on the importance of private sector feedback in focusing FinCEN’s AML efforts on the highest risk areas. He addressed the following four areas:
  • How FinCEN works to provide feedback to financial industry participants on the value of Bank Secrecy Act (BSA) data (provided in Suspicious Activity Reports (SARs) and Currency Transaction Reports) to law enforcement investigative efforts.
  • How FinCEN analyzes data to identify emerging trends.
  • How FinCEN formulates guidance for the financial community.
  • How FinCEN pursues other outreach avenues.

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