FinCEN Director Kenneth A. Blanco Emphasizes Importance of Information Sharing Among Financial Institutions

Last week Financial Crimes Enforcement Network (FinCEN), Director Kenneth A. Blanco, spoke at the annual American Bankers Association/American Bar Association Financial Crimes Enforcement Conference. In his remarks, he discussed the importance of information sharing as it is critical to preventing, reporting and identifying money laundering and other financial crime. Director Blanco provided guidance regarding FinCEN’s information sharing program under Section 314(b) of the USA PATRIOT Act. Most importantly, Director Blanco announced an updated 314(b) Fact Sheet. [Note: FinCEN is rescinding previously issued guidance (FIN-2009-G002)]

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