Newsroom

May 02, 2012

FinCEN to detail BSA report specs May 8

May 3, 2012 – Most credit unions face a July 1 deadline for transitioning their Bank Secrecy Act reporting to the BSA E-Filing System, and they can learn about the system and new report specifications May 8 in a webinar being held by the Financial Crimes Enforcement Network.

The webinar will provide a look at the new specs for the currency transaction report, suspicious activity report an designation of exempt person during the May 8 webinar. The program will also provide an overview of the BSA E-Filing Test site and testing process.

FinCEN has geared this webinar to the needs of information technology professionals who will be responsible for integrating the technical specifications for these new FinCEN reports into batch filing processes. These may include vendors of batch filing programs and financial institutions' in-house IT staff. Webinar participants should review the technical specifications prior to the webinar and document any specific questions for discussion.

The May 8 webinar is scheduled for 2 p.m. Eastern; registration is open now.

Later, FinCEN will hold a separate webinar for financial institution employees and compliance professionals with BSA-related responsibilities. This webinar will discuss the BSA E-Filing process for the new CTR and SAR.

Those with technology-related questions specific to E-Filing can call the BSA E-Filing Help desk at 866-346-9478. Questions about regulations can be directed to the FinCEN Regulatory Helpline at 800-949-2732.