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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 original 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).

Understanding the Law

Statutes

Rules & Regulations

Agency Guidance

BSA/CTR/SARs

Cannabis

Fraud and ID Theft

International

Money Services Business (MSBs)

Payments

Exam Procedures

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Rob Rowe

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