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Washington
FinCEN FY2009 annual report is available
WASHINGTON (12/18/09)—The Financial Crimes Enforcement Network (FinCEN) has released its annual report for fiscal year 2009--complete with what the agency sees as its accomplishments, as well as its continuing goals. Within its 77 pages, is a subhead reading “BSA Data
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Security.” This section reiterates the agency’s commitment to safeguarding the data collected under provisions of the Bank Secrecy Act (BSA) and a pledge to continue to review procedures to enhance security. The agency said increased awareness of the value of BSA information to detect financial crimes or oversee BSA compliance has resulted in more requests for access. As the fiscal year closed, the report said, FinCEN had more than 300 memoranda of understanding with external client agencies. In order to safeguard BSA data, FinCEN said it conducts onsite inspections at each agency to assess the proper and efficient use and security of BSA information, legitimate and documented purposes for utilization and re-dissemination, and appropriate retention and destruction procedures. Click below to take a look at the full report.
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