What is BSA (Bank Secrecy Act)?

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The **Bank Secrecy Act (BSA)**, formally known as the Currency and Foreign Transactions Reporting Act of 1970, is the primary U.S. anti-money laundering (AML) law that requires financial institutions to assist government agencies in detecting and preventing money laundering, terrorist financing, and other financial crimes by maintaining records and filing specific reports.

BSA (Bank Secrecy Act)

What is BSA (Bank Secrecy Act)?

What are the core reporting requirements financial institutions must fulfill under the Bank Secrecy Act (BSA)?

How does the Bank Secrecy Act (BSA) relate to and mandate the implementation of Anti-Money Laundering (AML) and Know Your Customer (KYC) programs?

Which federal agencies are responsible for the enforcement and examination of Bank Secrecy Act (BSA) compliance?

What is the relationship between the Bank Secrecy Act (BSA) and compliance with U.S. sanctions programs like those administered by OFAC?

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