Skip to main content

Do banks with reduced staff have to meet the timeframes for filing reports required under the Bank Secrecy Act (BSA)?

On March 16, 2020, the Financial Crimes Enforcement Network (FinCEN) issued a press release requesting that financial institutions affected by the COVID-19 pandemic contact FinCEN and their functional regulator as soon as practicable if such an institution has concerns about any potential delays in its ability to file required BSA reports. FinCEN’s Regulatory Support Section will continue to be available to support financial institutions for the duration of the COVID19 pandemic.

FinCEN Encourages Financial Institutions to Communicate Concerns Related to the COVID-19