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Program Assessment


View Assessment Details

Bank Secrecy Act Data Collection, Retrieval and Sharing

The program ensures the effective collection, retrieval, and sharing of highly sensitive and confidential information collected under the Bank Secrecy Act, which requires financial and certain other institutions to report suspicious transactions.


What This Rating Means

Moderately Effective

In general, a program rated Moderately Effective has set ambitious goals and is well-managed. Moderately Effective programs likely need to improve their efficiency or address other problems in the programs' design or management in order to achieve better results.
  • The program has long-term performance measures that focus on the program's purpose and strategic goals, but more work is needed to measure the quality of data collected. The program is looking at how to measure data quality.
  • Federal managers are held accountable for cost, schedule and performance results. However, some activities are managed by another entitiy and are outside the scope of the performance measures.
  • The program can show improved efficiencies and cost effectiveness for collecting and sharing data. The program has been able to show substantial increases in the number of users directly accessing data, the share of filings submitted electronically, and improved cost effectiveness for costs per form e-filed.

Improvement Plan

About Improvement Plans

We are taking the following actions to improve the performance of the program:

  • Surveying users to determine if they are receiving needed information in a timely manner, if the information is helpful, and if there are any problems with the information and format.
  • Creating targets to measure the number of top 650 filers who file reports electronically. Currently, the program tracks the top filers' use of e-filing but does not set annual targets.
  • Creating performance measure to measure the quality of information provided on Suspicious Activity Reports, possibly by measuring the number of completed fields that are critical to law enforcement.

Learn More

The content on is developed by the U.S. Office of Management and Budget and Federal agencies.