USPS OIG Report: Bank Secrecy Act Compliance

Posted on January 21, 2021January 21, 2021 by 21cpw

Objectives To combat money laundering in the U.S., Congress enacted a series of laws, collectively referred to as the Bank Secrecy Act (BSA). The BSA required financial institutions, including money services businesses, to report suspicious activities to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). Under the BSA, the Postal Service is…

USPS OIG Report: FY 2017 Bank Secrecy Act Program

Posted on January 19, 2018January 19, 2018 by 21cpw

Objective To combat money laundering in the U.S., Congress enacted a series of laws, collectively referred to as the Bank Secrecy Act (BSA), requiring financial institutions, including money services businesses (MSB), to deter and detect potential money laundering, and report suspicious activities to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network. Under the…