Bank Secrecy Act (BSA), 1970

Act 1970

Plain-English summary

The foundation of the US AML regime. It requires financial institutions to keep records and file reports — including currency transaction reports and suspicious activity reports — and, as amended (notably by the USA PATRIOT Act and the AML Act of 2020), to maintain risk-based AML programs.

Topics

AML / CFT / Sanctions

Official source

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