Government leans on banks to spot illegal transactions

01/2/2013 | National Public Radio

In its push to stop money laundering, the Justice Department is stepping up enforcement of the Bank Secrecy Act and asking banks to be more vigilant about spotting questionable transactions, experts say. "Banks are not set up historically really to be kind of quasi law enforcement enterprises, which is really what the U.S. government's asking of them," said Eugene Ludwig, former head of the Office of the Comptroller of the Currency.

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