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FinCEN Forms AML Industry Group to Review Gaps between Effort and Result
By Brian Orsak
printThe director of the U.S. financial intelligence unit and prominent Bank Secrecy Act officers have formed a group to discuss whether efforts to combat money laundering at times miss their mark. The group, known as the Delta Team, will function as part of the Bank Secrecy Act Advisory Group (BSAAG), a federally mandated organization that includes representatives of law enforcement agencies, federal regulators and financial institutions, according to Jennifer Shasky Calvery, director of the Financial Crimes Enforcement Network (FinCEN). Named after a perceived "delta" between the duties compliance officers are tasked with and the result of their efforts, the new...
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