The Daily Delta - Canadian AML & Financial Crime News
September 17, 2026
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U.S. Treasury Secretary Scott Bessent told lawmakers that Treasury is considering changes to longstanding Bank Secrecy Act reporting requirements, including potentially raising Suspicious Activity Report and Currency Transaction Report thresholds and giving banks greater credit for the length of their customer relationships. Bessent said Treasury is actively working on threshold increases based on customer tenure, particularly to reduce compliance burdens on small and community banks, but did not provide specific new thresholds or a timetable. The current CTR threshold remains more than US$10,000 in cash, while SAR thresholds vary depending on the type of suspected activity and whether a suspect can be identified. Bessent also reiterated support for removing beneficial ownership reporting requirements for domestic U.S. businesses while retaining them for foreign entities.
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