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Total BSA Filings Fell in Fiscal 2009: FinCEN
By Colby Adams
printU.S. Treasury Department efforts to ease the compliance burden of financial institutions have led to a seven percent drop in Bank Secrecy Act filings, the department's financial intelligence unit said Thursday. Regulatory filings relating to the Bank Secrecy Act (BSA) fell from over 18 million in fiscal 2008 to 16.7 million in fiscal 2009, according to the Financial Crimes Enforcement Network (FinCEN). In contrast, the total BSA filings rose 0.3 percent in fiscal 2008, from a total of 17.9 million in fiscal 2007, according to the report. The bureau has seen an annual rise in BSA filings since at least...
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