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Act

Bank Secrecy Act

Also called The Currency and Foreign Transactions Reporting Act of 1970, the BSA was initially adopted in 1970. The law originally required banks to maintain certain records and to report large currency transactions. Over the years, the law has been amended a number of times, adding requirements to report suspicious activities and track possible terrorist activities. The goal is to detect and deter instances of possible illicit finance, to track criminal activity, and to secure the safety of the financial system.

This page contains a number of links that are critical to understanding all aspects of compliance with BSA-related mandates, such as anti-money laundering (AML), countering the financing of terrorism (CFT), customer due diligence, and economic sanctions imposed by the Office of Foreign Assets Control (OFAC).

Statutes

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Rules & Regulations

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Staff Analysis

FinCEN’s September 10, 2024 BOI FAQ Updates
September 11, 2024
FinCEN's July 24, 2024 Changes to BOI FAQs
July 24, 2024
Spring 2024 Unified Regulatory Agenda
July 15, 2024
FinCEN’s July 8 BOI FAQ Updates
July 11, 2024

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BSA Questions from the Hotline

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Agency Guidance

Interagency Statement on the Issuance of the AML/CFT Program Notices of Proposed Rulemaking
July 19, 2024
Interagency Statement for Banks on the Issuance of the Beneficial Ownership Information Access Rule
December 21, 2023
Joint Statement on Crypto-Asset Risks to Banking Organizations
January 3, 2023
Joint Statement on the Risk-Based Approach to Assessing Customer Relationships and Conducting Customer Due Diligence
July 6, 2022
Advisory on Ransomware and the Use of the Financial System to Facilitate Ransom Payments
November 8, 2021
FinCEN SAR User Guide
August 1, 2021
FinCEN CTR User Guide
August 1, 2021
Anti-Money Laundering and Countering the Financing of Terrorism National Priorities
June 30, 2021
Interagency Statement on the Issuance of the Anti-Money Laundering/Countering the Financing of Terrorism National Priorities
June 30, 2021
FinCEN DOEP User Guide
March 1, 2015
FinCEN Advisories
FinCEN beneficial ownership small entity compliance guide FinCEN beneficial ownership for reporting companies (i.e. bank customers)
FinCEN notice to Financial Institution Customers: Beneficial Ownership Information Reference Guide FinCEN beneficial ownership for reporting companies (i.e. bank customers)
FinCEN beneficial ownership portal FinCEN beneficial ownership for reporting companies (i.e. bank customers)
FinCEN MSB Registrant Search
FinCEN beneficial ownership FAQs FinCEN beneficial ownership for reporting companies (i.e. bank customers)
FinCEN Federal Register Notices
FinCEN Administrative Rulings
FinCEN Financial Trend Analyses
FinCEN Notices, Bulletins and Fact Sheets
BSA E-Filing System

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Exam Procedures

BSA/AML Exam Manual

Policy Library
News

Policy Library

Comment Letter
Letter to the OCC, Federal Reserve Board, and FDIC on EGRPRA
October 31, 2024
Comment Letter
Letter to the Agencies on the AML Program Rule NPRM
October 8, 2024
Staff Analysis
FinCEN’s September 10, 2024 BOI FAQ Updates
September 11, 2024
Comment Letter
Letter to FinCEN on the Program Rule NPRM
September 3, 2024

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News

Article
Recent news from Treasury’s Office of Foreign Assets Control: November 22
November 23, 2024
NewsByte
Treasury Department updates foreign investment committee authorities
November 20, 2024
Article
Recent news from Treasury’s Office of Foreign Assets Control: November 15
November 15, 2024
Article
Recent news from Treasury’s Office of Foreign Assets Control: November 8
November 08, 2024

Proposed Rules

Related Training & Events

ABA/ABA Financial Crimes Enforcement Conference
Conference | October 11, 2024
Certificate in Fraud Prevention
Certificate
BSA/AML: Fundamentals
Self-Paced Training
Certificate in BSA and AML Compliance
Certificate

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ABA Resources

Guide
Best Practices for US Money Services Businesses
May 11, 2022
Guide
Common MSB Related Questions
January 24, 2005
ABA Web Page
Featured Resources: FinCEN's Beneficial Ownership Rule
December 31, 2021
Guide
Best Practices for US Money Services Businesses
May 11, 2022

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In Depth

Related Products

Our Experts

Heather Trew

Heather Trew

Senior Vice President & Counsel, Bank Secrecy Act/Anti-Money Laundering, Sanctions

Contact Heather

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