Financial institutions (71 - 74 of 74 items)
Federal Regulatory Agencies' Efforts To Ensure Bank Secrecy Act Compliance
128304: Oct 29, 1985
GAO discussed how bank regulatory agencies ensure compliance with the Bank Secrecy Act, which requires financial institutions to report currency transactions of more than $10,000. The Department of the Treasury has delegated enforcement authority to seven federal financial regulatory agencies. GAO stated that, generally, the agencies: (1) place greater emphasis on mission-related objectives than o...
SEC's Efforts To Find Lost and Stolen Securities
GGD-84-42: Published: May 18, 1984. Publicly Released: May 18, 1984.
The Securities and Exchange Commission (SEC) maintains a program to find securities, such as stocks and bonds, that financial institutions and their customers report as lost or missing. GAO reviewed the SEC program to determine its effectiveness in finding such securities.SEC requires financial institutions to register under the program. Registration entitles institutions to report lost or stolen...
Bank Secrecy Act Reporting Requirements Have Not Yet Met Expectations, Suggesting Need for Amendment
GGD-81-80: Published: Jul 23, 1981. Publicly Released: Jul 23, 1981.
The implementation of the Bank Secrecy Act's reporting requirements and their usefulness to law enforcement efforts were reviewed. Congress envisioned that the reporting requirements of the act would be useful for tracking the financial resources associated with criminal activities and the profits gained from these illegal activities. However, GAO found that the reports required under the act are...
Implementation of Bank Secrecy Act's Reporting Requirements
115888: Jul 23, 1981
GAO reported on its review of the implementation of the Bank Secrecy Act's reporting requirements. The act requires a currency transaction report, report of international transportation of currency or monetary instruments, and a report of foreign bank, securities, and other financial accounts. GAO found that these reports have not been widely used by Federal law enforcement and regulatory investig...