Press Releases
Press Release
For Immediate Release June 23, 2004

The Federal Financial Institutions Examination Council (FFIEC) is announcing the formation of an interagency working group that will enhance coordination of Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) training and awareness. The coordination will include improving communication between the Federal banking agencies and the Financial Crimes Enforcement Network (FinCEN). The working group will build on existing efforts and work to strengthen the activities that are already being pursued by other formal and informal interagency groups providing oversight of various BSA/AML-related matters, such as the important work underway in the Bank Secrecy Act Advisory Group, the Bank Fraud Working Group, the SAR Owners group and, internationally, through groups such as the Financial Action Task Force. All of these efforts are extremely important in light of the global impact of money laundering and the financing of terrorism.

For additional information concerning the formation of this working group, please contact Tamara J. Wiseman, Executive Secretary for the FFIEC, at 703-516-5590.

The FFIEC was established in March 1979 to prescribe uniform principles, standards, and report forms and to promote uniformity in the supervision of financial institutions. The Council has five member agencies: the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision. The Council's activities are supported by interagency task forces and by an advisory State Liaison Committee, comprised of five representatives of state agencies that supervise financial institutions.