A long hard look at fraud
The fight against fraud and money laundering in the US is hampered by too much focus on terrorist funding on one hand, and criminal prosecutions of banks on the other, say industry experts. But both law enforcement and the industry are reaching out to change things. Victoria Pennington reports
With a new president in the White House and a new administration poised to take power, the US financial industry is dusting off a wish-list of changes to the Bank Secrecy Act (BSA). The industry would like to see an improved, closer working relationship with the Financial Crime Enforcement Network (FinCEN), to help law enforcement and the industry work together to fight financial crime in that country. Today, industry executives argue, FinCEN's attitude towards the financial sector is far too
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