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113477 1 (1980-10-01)

handle is hein.gao/gaobadypf0001 and id is 1 raw text is: 


UNITED STATES GENERAL ACCOUNTING OFFICE //.q 7
        WASHINGTON, D.C. 20548



                     FOR RELEASE ON DELIVERY
                     Expected at 10:30 A.M. EDT
                     October 1, 1980


                      STATEMENT OF

        ARNOLD P. JONES, SENIOR ASSOCIATE DIRECTOR

              GENERAL GOVERNMENT DIVISION
                                                          113477
                       BEFORE THE

   SUBCOMMITTEE ON GENERAL OVERSIGHT AND RENEGOTIATION

 HOUSE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS

                 ON1 PLEMENTATION OF O

        BANK SECRECY ACT'S REPORTING REQUIREMENT


Mr. Chairman and Members of the Subcommittee:

     We are pleased to be here today to discuss our ongoing

review of the implementation of the Bank Secrecy Act's

reporting  requirements. We initiated our review pursuant

to your request at the conclusion of this Subcommittee's

hearings last November on Patterns of Currency Transactions

and Their Relationship to Narcotics Traffic. While we

still have some work to do, our review is far enough along

to provide our interim observations to assist you in your

oversight functions. We plan to issue a detailed report

after we have had a chance to further develop our findings

and conclusions and to consider recommendations appropriate

for resolving any problems.

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