Dubious Activity Regarding Credit/Debit Cards. FinCEN had been questioned of the standard Accounting company (GAO) to perform research on how credit/debit/ATM cards may be used in assisting funds laundering.
GAO asked for that FinCEN perform a browse of the SAR database for fiscal age 2000 and 2001 making use of the after specific details: 1) SARs submitted that indicated BSA/Structuring/Money Laundering just like the infraction type the spot where the term credit card or charge cards appeared in the narrative; 2) SARs submitted that suggested bank card fraudulence while the breach and where in actuality the conditions BSA, lender Secrecy operate, revenue laundering, or structuring starred in the narrative; 3) SARs recorded that suggested BSA/Structuring/Money Laundering because the breach sort the spot where the term debit or debit cards starred in the narrative; and 4) SARs submitted that shown Debit cards Fraud since breach and where the terms BSA, lender Secrecy Act, cash laundering, or structuring appeared in the narrative. Read more
