The Bank Secrecy Act (BSA) of 1970 is a U.S. law targeted to fight money laundering – the illicit practice of making illegally obtained monies appear “clean” by filtering said funds through a series of transactions designed to give the appearance that the monies came from legitimate activities. In the decades since, the BSA has been bolstered and enforced by the implementation and oversight of better defined and ever-evolving anti-money laundering initiatives and programs. By 1987, regulators were examining financial institutions’ Anti-Money Laundering compliance programs for proper and effective implementation.…
Read MoreAnti-Money Laundering Programs: Stalwart Defenders Against a Criminal Triumvirate
