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Regulators To Meet With Law Enforcement On AML, SARs

Regulators To Meet With Law Enforcement On AML, SARs

Federal financial regulators will meet with law enforcement officials to address banks’ reporting burdens under anti-money-laundering laws. The purpose of the meeting is to understand what law enforcement and intelligence officials do with the millions of suspicious activity reports banks submit every year without much feedback.  IBANYS member banks discussed this in our congressional meetings on Tuesday.  FDIC Chairwoman  Jelena McWilliams said the regulators are working with the Financial Crimes Enforcement Network (FinCEN) to schedule the meeting in the near future.

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