ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Newsbytes

FinCEN releases figures on use of Bank Secrecy Act reporting data

April 27, 2023
Reading Time: 1 min read
ABA, BPI urge cross-regulator ‘no-action’ letters for AML/BSA innovations

Bank Secrecy Act filings were used in IRS criminal investigations that led to $7.7 billion in asset seizures during the last two years, with an average sentence of 38 months for prosecutions, the Financial Crimes Enforcement Network said this week in its year-in-review report for fiscal year 2022. BSA data were the principal reason for 15.8% of investigations conducted by the IRS’s criminal unit in FY 2022 alone, with more than 84% of the agency’s criminal investigations using BSA data in some manner.

At the same time, the Department of Justice reported that BSA data was used in 46% of active investigations into transnational organized crime from 2020 to 2022, according to FinCEN. BSA data was also used by the department in 39.6% of active Organized Crime Drug Enforcement Task Force investigations, 36.3% of active complex financial crimes investigations, 27.5% of active public corruption investigations and 20.6% of active international terrorism investigations. Collectively, 472 federal, state and local law enforcement, regulatory and national security agencies have access to BSA reports and FinCEN Query. Authorized users conducted over 2.3 million searches using FinCEN Query in FY 2022, FinCEN said

ADVERTISEMENT
Tags: Anti-money launderingBank Secrecy ActFinCEN
ShareTweetPin

Related Posts

ABA, associations urge lawmakers to finalize deal on debt ceiling

Congress sends budget bill to president with numerous ABA-backed provisions

Ag Banking
July 3, 2025

Included in the bill were several ABA-supported tax provisions related to banks, including a modified version of the ABA-advocated ACRE Act and the permanent extension of the Section 199A pass-through deduction rate of 20%.

Factory orders increased in May

Economy
July 3, 2025

New orders for manufactured goods in May, up five of the last six months, increased $48.5 billion or 8.2% to $642.0 billion, the U.S. Census Bureau reported today. This followed a 3.9% April decrease. New orders for manufactured...

International trade deficit increased in May

Economy
July 3, 2025

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $71.5 billion in May, up $11.3 billion from $60.3 billion in April, revised. The May increase in the...

ISM: Service sector expanded in June

Economy
July 3, 2025

Economic activity in the services sector grew in June after contracting for just one month. The ISM Services Index indicated expansion at 50.8%, above the 50% breakeven point for the 11th time in the last 12 months. “Ten...

147,000 Jobs Added in June, Unemployment Rate Steady at 4.1%

Economy
July 3, 2025

Total nonfarm payroll employment increased by 147,000 in June, and the unemployment rate was little changed at 4.1%, the U.S. Bureau of Labor Statistics reported today. The number of unemployed people, at 7.0 million, changed little over the...

ADP: 33,000 jobs lost in June

Economy
July 3, 2025

The non-farm private sector lost 33,000 jobs in June, and annual pay was up 4.4% year-over-year, according to the ADP National Employment Report. This follows a downward revision of May’s report from 37,000 jobs added to 29,000.Small businesses...

NEWSBYTES

Congress sends budget bill to president with numerous ABA-backed provisions

July 3, 2025

Factory orders increased in May

July 3, 2025

International trade deficit increased in May

July 3, 2025

SPONSORED CONTENT

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

July 1, 2025
AI Compliance and Regulation: What Financial Institutions Need to Know

Unlocking Deposit Growth: How Financial Institutions Can Activate Data for Precision Cross-Sell

June 1, 2025
Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025

PODCASTS

Podcast: Inside ABA’s new Treasury Check Verification System API

June 25, 2025

Podcast: Staying close to clients amid tariff-driven volatility

June 18, 2025

Podcast: Old National’s Jim Ryan on the things that really matter

June 12, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.