Sec. 6201. ANNUAL REPORTING REQUIREMENTS
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## SEC. 6201 ANNUAL REPORTING REQUIREMENTS **[**[31 U.S.C. 5311 note](/us/usc/t31/s5311)**]** ###
(a)Annual Report Not later than 1 year after the date of enactment of this Act, and annually thereafter, the Attorney General, in consultation with the Secretary, Federal law enforcement agencies, the Director of National Intelligence, Federal functional regulators, and the heads of other appropriate Federal agencies, shall submit to the Secretary a report that contains statistics, metrics, and other information on the use of data derived from financial institutions reporting under the Bank Secrecy Act (referred to in this subsection as the “reported data”), including— ####
(1)the frequency with which the reported data contains actionable information that leads to— #####
(A)further procedures by law enforcement agencies, including the use of a subpoena, warrant, or other legal process; or #####
(B)actions taken by intelligence, national security, or homeland security agencies; ####
(2)calculations of the time between the date on which the reported data is reported and the date on which the reported data is used by law enforcement, intelligence, national security, or homeland security agencies, whether through the use of— #####
(A)a subpoena or warrant; or #####
(B)other legal process or action; ####
(3)an analysis of the transactions associated with the reported data, including whether— #####
(A)the suspicious accounts that are the subject of the reported data were held by legal entities or individuals; and #####
(B)there are trends and patterns in cross-border transactions to certain countries; ####
(4)the number of legal entities and individuals identified by the reported data; ####
(5)information on the extent to which arrests, indictments, convictions, criminal pleas, civil enforcement or forfeiture actions, or actions by national security, intelligence, or homeland security agencies were related to the use of the reported data; and ####
(6)data on the investigations carried out by State and Federal authorities resulting from the reported data. ###
(b)Report Beginning with the fifth report submitted under subsection (a), and once every 5 years thereafter, that report shall include a section describing the use of data derived from reporting by financial institutions under the Bank Secrecy Act over the 5 years preceding the date on which the report is submitted, which shall include a description of long-term trends and the use of long-term statistics, metrics, and other information. ###
(c)Trends, Patterns, and Threats Each report required under subsection
(a)and each section included under subsection
(b)shall contain a description of retrospective trends and emerging patterns and threats in money laundering and the financing of terrorism, including national and regional trends, patterns, and threats relevant to the classes of financial institutions that the Attorney General determines appropriate. ###
(d)Use of Report Information The Secretary shall use the information reported under subsections (a), (b), and (c)— ####
(1)to help assess the usefulness of reporting under the Bank Secrecy Act to— #####
(A)criminal and civil law enforcement agencies; #####
(B)intelligence, defense, and homeland security agencies; and #####
(C)Federal functional regulators; ####
(2)to enhance feedback and communications with financial institutions and other entities subject to requirements under the Bank Secrecy Act, including by providing more detail in the reports published and distributed under section 314(d) of the USA PATRIOT Act (31 U.S.C. 5311 note); ####
(3)to assist FinCEN in considering revisions to the reporting requirements promulgated under section 314(d) of the USA PATRIOT Act (31 U.S.C. 5311 note); and ####
(4)for any other purpose the Secretary determines is appropriate. ###
(e)Confidentiality Any information received by a financial institution under this section shall be subject to confidentiality requirements established by the Secretary.
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Sec. 6201
ANNUAL REPORTING REQUIREMENTS
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