FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W342669169> ?p ?o ?g. }

• W342669169 startingPage "9" @default.
• W342669169 abstract "Horror stories about bank examiners' zero tolerance policies circulated widely during the Money Laundering Enforcement Seminar jointly sponsored by ABA and the American Bar Association in late October. But in spite of official assurances from regulators, the stories heard at more recent banking meetings have only grown worse. In a speech at the seminar, and in other ways, William Fox, the head of the federal Financial Crimes Enforcement Network (FinCEN), has taken pains to assure bankers that isolated errors in judgment weren't meant to result in severe punishment. Fox criticized the way the recent Riggs and AmSouth cases have been reported in the press, indicating that the stories may have spread fear and angst, rather than the messages contained in the government settlements of how institutions can better comply with the Bank Secrecy Act and related laws. Even inside the compliance community I hear some pretty astounding misconceptions about the enforcement actions we have taken, said Fox at the seminar. These misperceptions reveal that those persons have not taken the time to read, let alone study, our enforcement orders for the guidance that is contained therein. Fox is considered quite sincere in his intent, but, as bankers observe, there is a serious disconnect between what senior banking compliance regulators in Washington have to say and what is being practiced by exam teams attempting to avoid congressional criticism. The word coming from the field is that single errors are frequently triggering formal written enforcement actions of some degree, and, further, that the spirit of the anti-money laundering law is counting for less as the emphasis of regulators appears to fall increasingly on hypertechnical compliance matters. Defensive SARs Anecdotally, the volume of SAR filngs has increased, with institutions filing them defensively--that is, filing more reports to avoid charges that they are not filing sufficient SARs to meet regulatory expectations based on peers' filing volumes. Case in point. A Texas banker tells of an examiner who insisted that the bank had erroneously been handling the exemption process for the local Wal-Mart's deposits. Besides writing up the bank, the examiner insisted that the bank execute its own punishment by filing retroactive currency transaction reports (CTRs) on the retailer's deposits. Ordered to take this all the way back to 1999, the bank appealed to the Internal Revenue Service, which waived this requirement. Case in point: An eastern banker says a high-level manager detected some odd things about an account. …" @default.
• W342669169 created "2016-06-24" @default.
• W342669169 creator A5018234346 @default.
• W342669169 date "2005-01-01" @default.
• W342669169 modified "2023-09-26" @default.
• W342669169 title "Post-Riggs BSA Exam Attitudes Drive Bankers Up a Wall" @default.
• W342669169 hasPublicationYear "2005" @default.
• W342669169 type Work @default.
• W342669169 sameAs 342669169 @default.
• W342669169 citedByCount "0" @default.
• W342669169 crossrefType "journal-article" @default.
• W342669169 hasAuthorship W342669169A5018234346 @default.
• W342669169 hasConcept C138885662 @default.
• W342669169 hasConcept C144133560 @default.
• W342669169 hasConcept C15744967 @default.
• W342669169 hasConcept C17744445 @default.
• W342669169 hasConcept C199539241 @default.
• W342669169 hasConcept C2778137410 @default.
• W342669169 hasConcept C2779777834 @default.
• W342669169 hasConcept C2781460075 @default.
• W342669169 hasConcept C39549134 @default.
• W342669169 hasConcept C41895202 @default.
• W342669169 hasConcept C77805123 @default.
• W342669169 hasConceptScore W342669169C138885662 @default.
• W342669169 hasConceptScore W342669169C144133560 @default.
• W342669169 hasConceptScore W342669169C15744967 @default.
• W342669169 hasConceptScore W342669169C17744445 @default.
• W342669169 hasConceptScore W342669169C199539241 @default.
• W342669169 hasConceptScore W342669169C2778137410 @default.
• W342669169 hasConceptScore W342669169C2779777834 @default.
• W342669169 hasConceptScore W342669169C2781460075 @default.
• W342669169 hasConceptScore W342669169C39549134 @default.
• W342669169 hasConceptScore W342669169C41895202 @default.
• W342669169 hasConceptScore W342669169C77805123 @default.
• W342669169 hasIssue "1" @default.
• W342669169 hasLocation W3426691691 @default.
• W342669169 hasOpenAccess W342669169 @default.
• W342669169 hasPrimaryLocation W3426691691 @default.
• W342669169 hasRelatedWork W113443163 @default.
• W342669169 hasRelatedWork W129271944 @default.
• W342669169 hasRelatedWork W130151774 @default.
• W342669169 hasRelatedWork W159408962 @default.
• W342669169 hasRelatedWork W182327472 @default.
• W342669169 hasRelatedWork W2118374112 @default.
• W342669169 hasRelatedWork W2288536 @default.
• W342669169 hasRelatedWork W228946187 @default.
• W342669169 hasRelatedWork W272578281 @default.
• W342669169 hasRelatedWork W2991717160 @default.
• W342669169 hasRelatedWork W2993610324 @default.
• W342669169 hasRelatedWork W328921598 @default.
• W342669169 hasRelatedWork W334299027 @default.
• W342669169 hasRelatedWork W338117907 @default.
• W342669169 hasRelatedWork W338382659 @default.
• W342669169 hasRelatedWork W340280538 @default.
• W342669169 hasRelatedWork W58827720 @default.
• W342669169 hasRelatedWork W614914634 @default.
• W342669169 hasRelatedWork W86687934 @default.
• W342669169 hasRelatedWork W2605921853 @default.
• W342669169 hasVolume "97" @default.
• W342669169 isParatext "false" @default.
• W342669169 isRetracted "false" @default.
• W342669169 magId "342669169" @default.
• W342669169 workType "article" @default.