WASHINGTON–The Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) is seeking nominations for new members of its Bank Secrecy Act Advisory Group (BSAAG). New members will be selected for three-year membership terms.
According to FinCEN, BSAAG is the “means by which the Treasury receives advice on the reporting requirements of the Bank Secrecy Act, and informs private sector representatives on how the information they provide is used.
“BSAAG membership is open to financial institutions, trade groups, and federal and non-federal regulators and law enforcement agencies that are located within the United States,” FinCEN continued. “Each member selected will serve a three-year term and must designate one individual to represent that member at plenary meetings. While BSAAG membership is granted to organizations, not to individuals, the designated representative for each selected organization should be knowledgeable about Bank Secrecy Act requirements and be willing and able to devote the necessary time and effort on behalf of the representative's organization. Members are expected to actively share anecdotal perspectives, quantifiable insights on BSA requirements, and industry trends in BSAAG discussions.”
Additional Requirements
According to FinCEN, the organization's representative must be able to attend biannual plenary meetings, generally held in Washington, DC, over one or two days in May and October. Additional BSAAG meetings may be held by phone, videoconference, or in person and the organization's representative is expected to actively engage in the BSAAG's work through participation in meetings of various BSAAG Subcommittees and/or working groups.
Nominations should be emailed to BSAAG@fincen.gov. The deadline is Jan. 24, 2022.