GAO warns of fraud complacency
FINANCIAL CRIME
In its review of the examination and enforcement programmes for BSA compliance that regulators use at depository institutions, the GAO also recommended that the heads of the Financial Crimes Network (FinCEN), the Office of the Comptroller of the Currency, the Federal Reserve, the Office of Thrift Supervision and National Credit Union Administration should periodically meet to review BSA data to determine if they indicate a need for additional guidance.
The agencies should "jointly assess the
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