Financial Crimes Enforcement Network Director Jennifer Shasky Calvery, speaking at the ABA/ABA Money Laundering Enforcement Conference today, stressed the need for financial institutions to “continue engaging with our regulatory, law enforcement and [other industry] partners as we determine where there is the most significant risk, if additional AML requirements are needed, and how best to get at any identified vulnerabilities with the least amount of burden.”
In a question and answer session following her remarks, Shasky Calvery commended bankers for their work in BSA reporting, emphasizing the importance financial intelligence to predict and deter money laundering and terrorism. “Financial intelligence is one of the most crucial pieces of intelligence out there,” she said. “We have no financial intelligence without you.”
