‘Blast’ looks at BSA violations in the news, more
Oct. 16, 2013 – The October edition of the BSA Blast from NAFCU’s regulatory compliance team focuses on a couple high-profile Bank Secrecy Act violations involving TD Bank and Saddle River Valley Bank and offers a best-of-the-Blast’s BSA compliance quiz.
The BSA Blast is a quarterly e-newsletter that offers coverage and analysis of credit union compliance issues and industry activity related to the Bank Secrecy Act and activities at Treasury’s Financial Crimes Enforcement Network and Office of Foreign Assets Control. October’s issue features a 25-question quiz of best questions from previous quizzes on BSA and OFAC issues and regulations to help members grow their compliance knowledge.
The new issue also looks at FinCEN’s analysis of 2012 suspicious activity reports filed and its administrative ruling on how to complete Currency Transaction Reports when customers use armored cars. This quarter’s BSA Blast also notes FinCEN advisory FIN-2013-A007, which contains an update on activity related to the regulatory restrictions imposed on Mexican financial institutions with transactions involving U.S. currency.
The e-newsletter is a member-only resource; staff and volunteers of member credit unions can subscribe online.