VIENNA, Va. — Financial Crimes Enforcement Network Director James. H. Freis Jr. expressed his commitment to effective and efficient Bank Secrecy Act administration during a meeting of the BSA Advisory Group hosted by FinCEN.

"The Bank Secrecy Act Advisory Group is a model of public-private sector partnership in which its participants can engage in open dialogue about the issues facing them related to the protection of the U.S. financial system from money laundering, terrorist financing, and other abuse," Freis commented. "The plenary gathering is extremely important, but also the year-round work of the subcommittees is especially valuable to helping us serve the purposes of the Bank Secrecy Act. I hope to contribute a fresh perspective as I learn about their hard work."

The BSAAG holds plenary sessions twice a year in Washington, D.C. and serves as the principal forum for discussing BSA issues. The BSAAG is comprised of representatives from financial institutions, federal law enforcement agencies, all of the federal banking regulators, and others from the private and public sectors, including Navy Federal Credit Union and CUNA. The director, who also chairs the BSAAG, is charged with ensuring relevant issues are placed before the group.