BSA
E37933
BSA is a U.S. anti-money laundering law that requires financial institutions to assist government agencies in detecting and preventing financial crimes.
Aliases (1)
- Bank Secrecy Act ×48
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal law
→
anti-money laundering law → |
| abbreviation | BSA → |
| administeredBy |
Financial Crimes Enforcement Network
→
United States Department of the Treasury →
surface form: "U.S. Department of the Treasury"
|
| alsoKnownAs |
Bank Secrecy Act
→
surface form: "Currency and Foreign Transactions Reporting Act"
|
| amendedBy |
Annunzio-Wylie Anti-Money Laundering Act
→
Intelligence Reform and Terrorism Prevention Act of 2004 → Money Laundering Suppression Act of 1994 → Money Laundering and Financial Crimes Strategy Act of 1998 → USA PATRIOT Act → |
| appliesTo |
banks
→
broker-dealers in securities → casinos → credit unions → money services businesses → other financial institutions → |
| country |
United States of America
→
surface form: "United States"
|
| dateEnacted | 1970-10-26 → |
| enactedBy | United States Congress → |
| enforcedBy |
United States Department of Justice
→
surface form: "Department of Justice"
Financial Crimes Enforcement Network → Internal Revenue Service → federal banking regulators → |
| focusesOn |
money laundering
→
other financial crimes → terrorist financing → |
| jurisdiction |
United States of America
→
surface form: "United States"
|
| legalArea |
anti-money laundering law
→
banking law → financial regulation → |
| officialName |
Bank Secrecy Act
→
surface form: "Bank Secrecy Act of 1970"
|
| partOf | U.S. anti-money laundering regulatory framework → |
| primaryPurpose |
assist government agencies in detecting and preventing financial crimes
→
combat money laundering → |
| requires |
customer identification and due diligence procedures
→
establishment of anti-money laundering programs by financial institutions → financial institutions to file certain reports with the U.S. government → financial institutions to maintain certain records → recordkeeping for certain funds transfers → |
| requiresReport |
Currency Transaction Report
→
Foreign Bank and Financial Accounts Reports →
surface form: "Foreign Bank and Financial Accounts Report"
Bank Secrecy Act →
surface form: "Suspicious Activity Report"
|
| signedBy | Richard Nixon → |
| subjectTo |
civil penalties
→
criminal penalties → |
| thresholdForCurrencyTransactionReport | more than $10,000 in cash in a single day → |
| yearEnacted | 1970 → |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.
subject surface form: "Bank Secrecy Act"