FinCEN Statement Outlines Approach to BSA Enforcement  

The Financial Crimes Enforcement Network today issued a statement describing its approach to Bank Secrecy Act enforcement and the factors it evaluates in determining the appropriate response to and enforcement of BSA violations.

The statement outlines the various types of action FinCEN may pursue when it identifies an actual or possible BSA violation, including issuing a warning letter, an injunction or equitable relief, settlements, civil money penalties, criminal referral or taking no action. It also lists the range of factors FinCEN considers when evaluating an appropriate disposition upon identifying actual or possible violations of the BSA.