Since 2001 the federal government has been focusing on money laundering and enforcing the 40 year old Bank Secrecy Act. To enforce this law the Treasury Department is using IRS specially trained Bank Secrecy Act Examiners (“BSA”) and the Special Enforcement Program to target businesses that could be used to assist parties to launder money, including money cashing businesses, pawn shops, casinos, car dealers, jewelers and dealers in precious metals.
The focus of these BSA examinations is the filing of 8300 cash reporting forms, suspicious activity reports (“SARs”), and a businesses anti-money laundering policy and its training of its employees. We have experience in assisting clients through the BSA examination, and for those businesses not yet selected for audit, or for those who are already under examination, we can help clients put the necessary plans in place to avoid the issue altogether.
RECENT GS LAW NEWS
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- New York Tax & Estate Attorney Steven M. Etkind Charged with Tax Fraud
- Minnesota Tax Return Preparer Indicted for Tax Refund Fraud Scheme
- Houston Businessman Pleads Guilty to Money Laundering Conspiracy