| FOR RELEASE at 12:00 A.M. EDT | For further information | ||||
| Wednesday, June 23, 2004 | Contact: Chris Smith | ||||
| OTS 04-23 | 202/906-6677 | ||||
The Federal Financial Institutions Examination Council (FFIEC) is announcing the formation of an interagency working group that will enhance coordination of Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) training and awareness. The coordination will include improving communication between the Federal banking agencies and the Financial Crimes Enforcement Network (FinCEN). The working group will build on existing efforts and work to strengthen the activities that are already being pursued by other formal and informal interagency groups providing oversight of various BSA/AML-related matters, such as the important work underway in the Bank Secrecy Act Advisory Group, the Bank Fraud Working Group, the SAR Owners group and, internationally, through groups such as the Financial Action Task Force. All of these efforts are extremely important in light of the global impact of money laundering and the financing of terrorism.
For additional information concerning the formation of this working group, please contact Tamara J. Wiseman, Executive Secretary for the FFIEC, at 703-516-5590.
The Office of Thrift Supervision (OTS), a bureau of the U.S. Treasury, regulates and supervises the nation's thrift industry. OTS's mission is to ensure the safety and soundness of thrift institutions and to support their role as home mortgage lenders and providers of other community credit and financial services. For copies of news releases or other documents visit the OTS web page at www.ots.treas.gov.
Created: Wednesday, 6/23/2004