One of the main reasons the Bank Secrecy Act is such an effective tool against financial crime is the information sharing provisions it contains. The BSA requires and encourages banks in the United States to share information with one and other and law enforcement agencies through mandatory and voluntary information sharing programs.
This module will provide you with an overview of the mandatory and voluntary information sharing provisions of the Bank Secrecy Act (BSA).
This course includes an examination.
- Ensure compliance with the mandatory information sharing provisions of the Bank Secrecy Act.
- Engage in voluntary information sharing while maintaining compliance with the Bank Secrecy Act.
- Mandatory Information Sharing
o Information Requests
o Record Searches
o Reporting to FinCEN
o Designating a Contact Person
o Use and Security of an Information Request
- Voluntary Information Sharing
o Notice to FinCEN
o Use and Security of Information
o Information Sharing: Federal Government