United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2008-02-21 monographic deposited born digital 105 p. GA 1.13:GAO-08-355 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-355 P0b002ee180389eb2 f:d08355 DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-08-355 machine generated eng fdlp REPORT GAOREPORTS-GAO-08-355 GAO-08-355 Investigations by federal agencies Law enforcement Law enforcement agencies Banking law Federal regulations Databases Bank deposits Banking regulation Reporting requirements Financial institutions Money laundering Crimes Bank examination Other Written Product A80950 To aid law enforcement efforts against financial crimes, under the Bank Secrecy Act (BSA) depository institutions must file the Treasury Department's Financial Crimes Enforcement Network's (FinCEN) currency transaction report (CTR) form on their customers' cash transactions of more than $10,000. While FinCEN's regulations allow institutions to exempt certain customers, over 15 million CTRs were filed in 2006. Public Law 109-351 directed GAO to report on (1) the usefulness of CTRs to law enforcement; (2) depository institutions' costs of meeting CTR requirements; and (3) ways to encourage use of exemptions to avoid unnecessary CTRs. Among other things, GAO obtained data from FinCEN on CTRs and exemptions from 2004 to 2006, surveyed 115 state and local law enforcement agencies and 680 depository institutions, held structured interviews with officials of federal agencies and depository institutions, and reviewed relevant laws and regulations. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-355/html/GAOREPORTS-GAO-08-355.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-355/pdf/GAOREPORTS-GAO-08-355.pdf GAO-08-355 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-355 Other Written Product GAO-08-355; Bank Secrecy Act: Increased Use of Exemption Provisions Could Reduce Currency Transaction Reporting While Maintaining Usefulness to Law Enforcement Efforts; Investigations by federal agencies Law enforcement Law enforcement agencies Banking law Federal regulations Databases Bank deposits Banking regulation Reporting requirements Financial institutions Money laundering Crimes Bank examination Volume 84 Page 1114 84 Stat. 1114 Volume 100 Page 3207 100 Stat. 3207 Volume 102 Page 4181 102 Stat. 4181 Volume 108 Page 2243 108 Stat. 2243 Volume 112 Page 2941 112 Stat. 2941 Volume 115 Page 272 115 Stat. 272 Volume 120 Page 1966 120 Stat. 1966 Public Law 91-508 Public Law 99-570 Public Law 100-690 Public Law 103-325 Public Law 105-310 Public Law 107-56 Public Law 109-351