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Supervision and Regulation News

February 19, 2007

FinCEN Sets Out E-filing Specifications for March 
The Financial Institutions Crimes Enforcement Network (FinCEN) published on Feb. 9 the specifications and general requirements and conditions for filing Bank Secrecy Act (BSA) reports submitted electronically using the Web-based BSA E-Filing System. FinCEN said the specifications only apply to BSA reports that have been revised as of March 2007 and later. Institutions must apply and meet certain requirements before they may submit BSA reports electronically.