The primary focus of the Task Force is to review the BSA, its implementation, and its enforcement with respect to U.S. financial institutions that are subject to these requirements, and to develop recommendations for ensuring the continued effectiveness of the BSA and efficiency in agency efforts to monitor compliance.
Second, to make the supervision of internationally active banking organizations more effective, we are engaged as a member of the U.S. delegation to the Financial Action Task Force, an international policymaking and standard-setting body dedicated to combating money laundering and terrorist financing globally.