FinCEN Updates Answers to Frequently Asked BSA Questions

FinCEN Updates Answers to Frequently Asked BSA Questions

FinCEN Updates Answers to Frequently Asked BSA Questions

The Financial Crimes Enforcement Network (FinCEN) recently updated its answers to frequently asked Bank Secrecy Act (BSA) questions, which included the removal of several outdated questions, updating references to the Code of Federal Regulations, and modifying the answer to question 16 regarding how to address a current issue involving the Designation of Exempt Person (DEP) form.

The answers are not meant to be comprehensive, apply to all factual situations, or to replace or supersede the BSA regulations. Additional questions and answers will be posted on a periodic basis. Review the updates on the FinCen website.

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