US banks to miss SAR reporting deadline
WASHINGTON, DC – The timetable set out by the US government for banks' reporting requirements on cross-border fund transfers will probably be missed, according to a prominent Treasury Department official.
Addressing delegates at the American Bankers Association's annual Money Laundering Enforcement conference, Robert Werner, director of the Financial Crimes Enforcement Network (FinCEN), revealed that the December 2007 deadline for the implementation of cross-border wire transfer reporting "is not a realistic one".
"A related report on the feasibility of asking banks to file such reports is currently
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