In today’s regulatory environment, financial institutions must be increasingly vigilant in the fight against money laundering. The recent Panama Papers debacle and other high-profile banking scandals highlight the plethora of threats posed by political corruption, terrorism financing and money laundering. Currency transaction reports (CTRs), which automatically report transactions of $10,000 or more, and suspicious activity reports (SARs), which flag irregular account activity, form the backbone of Bank Secrecy Act reporting and are financial institutions’ best assets in the enforcement of anti-money laundering…
How to Improve Relational Efficiencies between Law Enforcement and Financial Services
