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FDIC and FinCEN to Co-Sponsor a Symposium on Anti-Money Laundering and Anti-Terrorist Financing
The Federal Deposit Insurance Corporation (FDIC) and the Financial Crimes Enforcement Network (FinCEN) will co-sponsor a symposium on "Anti-Money Laundering and Anti-Terrorist Financing" on April 6 in Austin, Texas.
The one-half day event is part of an ongoing initiative to address the financial services industry's questions and concerns related to the financial recordkeeping and reporting requirements of the Bank Secrecy Act (BSA) and the USA PATRIOT Act. The federal banking agencies and FinCEN are committed to continuing an open dialogue with the industry about this high-profile issue and its importance to national security.
The symposium will include speakers and panelists from FinCEN, the federal banking agencies, the law enforcement community and the financial services industry.
Panelists will discuss current challenges in combating money laundering and terrorist financing. The first panel will provide an industry perspective from Texas bankers on the challenges relating to compliance with the BSA and the USA PATRIOT Act. The second panel, of federal law enforcement personnel, will discuss current trends and events relating to criminal investigations, Suspicious Activity Reports, Currency Transaction Reports, and immigration issues. The final panel, consisting of representatives from FinCEN and some of the federal banking agencies, will discuss money service businesses, examination and supervisory issues, and other pertinent matters.
The FDIC's symposium on anti-money laundering and anti-terrorist financing will be held at the Hyatt Hotel in Austin, Texas. To register for this event, please call Cynthia Scott of the FDIC at (972) 761-2033.
Additional information related to the BSA and the USA PATRIOT Act and efforts related to combating money laundering and terrorist financing activities is available at http://www.fdic.gov/regulations/examinations/bsa and http://www.fincen.gov.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,975 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov and may also be obtained through the FDIC's Public Information Center (877-275-3342 or (703) 562-2200).
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