On February 5, 2010, the Financial Crimes Enforcement Network (FinCEN) issued a final rule to amend the relevant Bank Secrecy Act information sharing rules to allow certain foreign law enforcement agencies, and State and local law enforcement agencies, to submit requests for information to financial institutions. The rule also clarifies that FinCEN itself, on its own behalf and on behalf of other appropriate components of the Department of the Treasury (“Treasury”), may submit such requests.
Modification of the information sharing rules is a part of Treasury’s continuing effort to increase the efficiency and effectiveness of its anti-money laundering and counter-terrorist financing policies.
About Me
- Paul-Emile Roy, CPA, CA
- Paul-Emile Roy is an independent researcher and consultant. For 25 years, he served as a Principal in the Research Studies Department at the Canadian Institute of Chartered Accountants (CICA) in Toronto, Canada. During that time, he managed more than 50 research projects involving hundreds of volunteers and consultants from academe, public accounting, industry, finance, government and various regulatory bodies. He is an aspiring archivist, historian and genealogist.
Canada - Anti-Money Laundering and Anti-Terrorist Financing Requirements
A Guide for Chartered Accountants