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Bank Secrecy Act

Also called The Currency and Foreign Transactions Reporting Act of 1970, the BSA was initially adopted in 1970. The law originally required banks to maintain certain records and to report large currency transactions. Over the years, the law has been amended a number of times, adding requirements to report suspicious activities and track possible terrorist activities. The goal is to detect and deter instances of possible illicit finance, to track criminal activity, and to secure the safety of the financial system.

This page contains a number of links that are critical to understanding all aspects of compliance with BSA-related mandates, such as anti-money laundering (AML), countering the financing of terrorism (CFT), customer due diligence, and economic sanctions imposed by the Office of Foreign Assets Control (OFAC).

Statutes

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Rules & Regulations

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Staff Analysis

ABA Staff Analysis on FinCEN's Beneficial Ownership Information Access and Safeguards Final Rule
January 8, 2024
Spring 2023 CFPB Regulatory Agenda
June 23, 2023
CFPB Fall 2022 Regulatory Agenda
January 11, 2023
FinCEN Final Beneficial Ownership Reporting Rule
October 21, 2022

BSA Questions from the Hotline

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Agency Guidance

SAR Stats
January 31, 2022
FinCEN: Complying with the Customer Due Diligence (CDD) Final Rule
December 31, 2021
FinCEN Alert: Beware of Email and Telephone Financial Scams
December 31, 2021
Fraud and ID Theft
FinCEN Updates Answers to Frequently Asked BSA Questions
December 31, 2021
BSA/CTR/SARs
Banking Agencies Provide Guidance on Model Risk Management
April 9, 2021
FinCEN Releases Guidance on Financial Crime Information Sharing Program
December 10, 2020
FinCEN Issues BSA/AML Guidance on Hemp-Related Businesses
June 29, 2020
DOJ Updates Guidance on Evaluating Corporate Compliance Programs
June 1, 2020
FinCEN Issues Further Guidance for Banks Coping with COVID-19
April 3, 2020
FinCEN Issues Advisory on Iran
October 11, 2018
International
FinCEN Advisory Warns U.S. Financial Institutions of Proceeds from Corrupt Nicaraguan Politicians
October 4, 2018
International
Agencies Issue Statement on Sharing Resources for BSA Compliance
October 3, 2018
BSA/CTR/SARs
FinCEN Clarifies Beneficial Ownership Reporting Requirements for Premium Finance Cash Refunds
May 11, 2018
BSA/CTR/SARs
FinCEN Guidance: FAQs Regarding Customer Due Diligence Requirements for Financial Institutions
April 3, 2018
BSA/CTR/SARs
FinCEN Names ABLV Bank of Latvia an Institution of Primary Money Laundering Concern
February 16, 2018
International
Justice Department Revokes Obama-Era Guidance on Marijuana Enforcement
January 4, 2018
2018 DOJ Marijuana Enforcement Memo
FinCEN Advisory on Venezuelan Corruption Proceeds Entering U.S.
September 20, 2017
International
FinCEN Issues Revised GTOs to include Honolulu
August 22, 2017
BSA/CTR/SARs
FinCEN's Model certification form
August 1, 2017
OCC Risk Management Guidance on Foreign Correspondent Banking
October 5, 2016
FATF Report: United States' AML/CFT Regime "Well-Developed and Robust"
October 1, 2016
FinCEN Advisory: E-Mail Compromise Fraud Schemes
September 6, 2016
Fraud and ID Theft
FinCEN Issues FAQs on CDD Rule
July 19, 2016
BSA/CTR/SARs
OCC Issues Statement on Risk Management Associated with MSBs
November 19, 2014
Money Services Business (MSBs)
FinCEN Statement on Providing Banking Services to MSBs
November 10, 2014
Money Services Business (MSBs)
FinCEN Addresses Challenges in Cross-Border Info-Sharing
October 3, 2014
International
FinCEN Advisory Promotes Culture of Compliance
August 11, 2014
BSA/CTR/SARs
Justice Department Guidance on Marijuana Businesses
February 14, 2014
Cannabis
FinCEN Guidance to Financial Institutions on Marijuana Businesses
February 14, 2014
Cannabis
FinCEN: Miners of Bitcoin for Personal Use Not Money Transmitters
January 30, 2014
Payments
FinCEN Revises Armored Car Transaction Reporting
July 12, 2013
BSA/CTR/SARs
SAR Activity Review – Trends, Tips & Issues
May 1, 2013
FinCEN Advisory on Third-Party Payment Processor Risk
October 22, 2012
Payments
FinCEN Guidance on Tax Refund Fraud and ID Theft
March 30, 2012
Fraud and ID Theft
FinCEN Issues Advisory on SAR Confidentiality
March 12, 2012
BSA/CTR/SARs
FinCEN Annual Reports
September 8, 2011
Interagency Guidance on Foreign Embassy Accounts
March 24, 2011
International
FinCEN Guidance on Determining Eligibility for Exemption from CTR Requirements
August 31, 2009
BSA/CTR/SARs
Notice to Customers: A CTR Reference Guide
February 24, 2009
BSA/CTR/SARs
Notice to Customers: A CTR Reference Guide (Spanish)
February 24, 2009
BSA/CTR/SARs
FinCEN Clarifies SAR Documentation Issues
June 13, 2007
BSA/CTR/SARs
USA PATRIOT Act
January 1, 2001

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Exam Procedures

BSA/AML Exam Manual

Policy Library
News

Policy Library

Comment Letter
Letter to FinCEN on the Investment Adviser and Residential Real Estate NPRMs
April 15, 2024
Comment Letter
Letter to FinCEN on Information Collection Requirements relating to Currency Transaction Reports
April 5, 2024
Staff Analysis
ABA Staff Analysis on FinCEN's Beneficial Ownership Information Access and Safeguards Final Rule
January 8, 2024
Comment Letter
ABA Comment Letter on Revised FinCEN BOIR Form under the Paperwork Reduction Act
October 30, 2023

News

NewsByte
FinCEN: Financial institutions reported $27 billion in elder financial exploitation
April 18, 2024
NewsByte
FinCEN renews geographic targeting orders for residential real estate
April 17, 2024
NewsByte
ABA: Proposed investment adviser, real estate reporting rules need refinement
April 15, 2024
Article
Recent news from Treasury’s Office of Foreign Assets Control: April 12
April 13, 2024

Proposed Rules

Related Training & Events

ABA/ABA Financial Crimes Enforcement Conference
Conference | October 8, 2024
Certificate in Fraud Prevention
Certificate
BSA/AML: Fundamentals
Self-Paced Training
Certificate in BSA and AML Compliance
Certificate

ABA Resources

Guide
Best Practices for US Money Services Businesses
May 11, 2022
Guide
Common MSB Related Questions
January 24, 2005
ABA Web Page
Featured Resources: FinCEN's Beneficial Ownership Rule
December 31, 2021
Guide
Best Practices for US Money Services Businesses
May 11, 2022

In Depth

Related Products

Our Experts

Heather Trew

Heather Trew

Senior Vice President & Counsel, Bank Secrecy Act/Anti-Money Laundering, Sanctions

Contact Heather

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