The Financial Crimes Enforcement Network could improve its communication with law enforcement agencies to ensure bank anti-money laundering filings and other data are put to better use, the Government Accountability Office said Monday.
In a report posted on the watchdog agency's Web site, the GAO said that of the 20 law enforcement agencies surveyed, 16 cited direct access to Bank Secrecy Act data records of financial transactions as the most valuable service Fincen provides.
But the GAO said that three of the five law enforcement agencies that were identified as Fincen's primary federal customers said that the Treasury Department bureau does not provide detailed information about the various types of information it can deliver. Two of the five agencies said Fincen does not communicate why it accepts some requests for support and rejects others.
