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InfoSight Highlight: Bank Secrecy Act Channel
Friday, March 16, 2018 7:00 AM

The Bank Secrecy Act (BSA), also known as The Financial Recordkeeping and Reporting of Currency and Foreign Transactions Act of 1970, was enacted to help in the investigations of money laundering, tax evasion and other criminal activity.

There are many laws and regulations that make up BSA. Among them are the Money Laundering Control Act of 1986; the Anti-Drug Abuse Act of 1986; the Currency and Foreign Transactions Reporting Act; and the Financial Recordkeeping and the Department of Treasury's Reporting of Currency and Foreign Transactions rules. The most recent law impacting BSA is Title III of the USA Patriot Act, passed in 2001.

On the InfoSight Bank Secrecy Act Channel are 19 different topics, including Money Services Businesses and Virtual Currency. Be sure you are kept up to date with the information in the Bank Secrecy Act channel today.

Source:  InfoSight Compliance

Need more info on a regular basis? Check out InfoSight, your first stop when searching for compliance answers.

InfoSight operates as an online compliance manual at your fingertips, containing federal and state-specific content that is accurate, concise, and detailed on a wide range of topics and issues. Subscribers are able to access easy-to-read compliance summaries, checklists for compliance, direct links to laws and regulations, frequently asked questions, and links to additional important resources, including CUNA's online compliance resource "E-Guide." As part of InfoSight, the League sends out a weekly eNewsletter highlighting regulatory changes, hot topics in compliance, and comment calls.

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