US banks to miss SAR reporting deadline


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 making its way through the Treasury Department although it is too early so say when the report will

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