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55Selectio n Re view # 1 We B e a t t h e Street I NT rod u ct i on a d Chapter s 1 5 1. Identify some purposes of the three doctors in writing this book. In writing this book, the doctors have several
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WE B E A stands for the Bank Secrecy Act (BSA) and its related Anti-Money Laundering (AML) regulations.
Financial institutions such as banks, credit unions, money services businesses, and casinos are required to file WE B E A reports.
WE B E A reports can be filled out electronically through the Financial Crimes Enforcement Network's (FinCEN) BSA E-Filing System.
The purpose of WE B E A is to help prevent money laundering, terrorist financing, and other financial crimes by requiring financial institutions to report certain financial transactions.
WE B E A reports typically include information about the transaction, the individuals or entities involved, and any suspicious activity.
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