Bank Secrecy Act

E6065
United States federal statute anti–money laundering law financial regulation law

The Bank Secrecy Act is a U.S. law that requires financial institutions to assist government agencies in detecting and preventing money laundering, terrorist financing, and other financial crimes.

Jump to: Surface forms Statements Referenced by

Observed surface forms (5)

Surface form Occurrences
Currency and Foreign Transactions Reporting Act 2
Bank Secrecy Act of 1970 1
Chapter 53 – Monetary Transactions and Anti–Money Laundering 1

Statements (48)

Predicate Object
instanceOf United States federal statute ⓘ
anti–money laundering law ⓘ
financial regulation law ⓘ
aimsToProtect integrity of the U.S. financial system ⓘ
alsoKnownAs Bank Secrecy Act ⓘ
surface form: Currency and Foreign Transactions Reporting Act
appliesTo banks ⓘ
broker-dealers in securities ⓘ
casinos ⓘ
credit unions ⓘ
money services businesses ⓘ
other covered financial institutions ⓘ
basisFor U.S. anti–money laundering regulatory framework ⓘ
complianceRequires designation of a BSA compliance officer ⓘ
independent testing of AML programs ⓘ
internal controls at financial institutions ⓘ
ongoing employee training ⓘ
country United States of America ⓘ
surface form: United States
enforcedBy Financial Crimes Enforcement Network ⓘ
surface form: FinCEN

Financial Crimes Enforcement Network ⓘ
United States Department of the Treasury ⓘ
surface form: U.S. Department of the Treasury

federal banking regulators ⓘ
jurisdiction United States financial system ⓘ
legalArea banking law ⓘ
financial crime law ⓘ
objective provide information useful in criminal tax and regulatory investigations ⓘ
obligates financial institutions to assist U.S. government agencies ⓘ
primaryPurpose combat other financial crimes ⓘ
detect and prevent money laundering ⓘ
detect and prevent terrorist financing ⓘ
relatedConcept anti–money laundering ⓘ
counter-terrorist financing ⓘ
financial intelligence ⓘ
regulatory compliance ⓘ
requires anti–money laundering compliance programs ⓘ
currency transaction reports ⓘ
customer identification procedures ⓘ
recordkeeping for certain financial transactions ⓘ
reporting of certain foreign bank and financial accounts ⓘ
suspicious activity reports ⓘ
requiresActionFrom financial institutions ⓘ
shortName BSA ⓘ
supports collection of financial intelligence data ⓘ
usedBy intelligence agencies ⓘ
law enforcement agencies ⓘ
tax authorities ⓘ
violationCanResultIn civil penalties ⓘ
criminal penalties ⓘ
regulatory enforcement actions ⓘ

Referenced by (18)

Full triples — surface form annotated when it differs from this entity's canonical label.

Bank Secrecy Act → alsoKnownAs → Bank Secrecy Act ⓘ
this entity surface form: Currency and Foreign Transactions Reporting Act
BSA → alsoKnownAs → Bank Secrecy Act ⓘ
subject surface form: Bank Secrecy Act
this entity surface form: Currency and Foreign Transactions Reporting Act
AMLA 2020 → amends → Bank Secrecy Act ⓘ
Anti-Money Laundering Act of 2020 → amends → Bank Secrecy Act ⓘ
Public Law 107-56 → amends → Bank Secrecy Act ⓘ
Public Law 116-283, Division F → amends → Bank Secrecy Act ⓘ
USA PATRIOT Act → amends → Bank Secrecy Act ⓘ
this entity surface form: Chapter 53 – Monetary Transactions and Anti–Money Laundering
Public Law 107-56 → containsTitle → Bank Secrecy Act ⓘ
this entity surface form: Title III – International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001
IRS Criminal Investigation → enforces → Bank Secrecy Act ⓘ
BSA E-Filing System → legalBasis → Bank Secrecy Act ⓘ
subject surface form: U.S. Department of the Treasury national AML and CFT priorities
BSA → officialName → Bank Secrecy Act ⓘ
subject surface form: Bank Secrecy Act
this entity surface form: Bank Secrecy Act of 1970
91st United States Congress → passed → Bank Secrecy Act ⓘ
BSA → requiresReport → Bank Secrecy Act ⓘ
subject surface form: Bank Secrecy Act
this entity surface form: Suspicious Activity Report