Bank Secrecy Act (BSA): Key Compliance Insights
1Description
In this episode of FinCrime Jobs, we explore the Bank Secrecy Act (BSA)—the cornerstone of U.S. anti–money laundering (AML) regulation. You’ll learn how the BSA requires financial institutions to file Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) to detect and prevent illicit finance. We discuss the evolution of BSA compliance, including effective customer due diligence (CDD) and risk-based transaction monitoring frameworks. Tune in as we break down real-world examples of BSA violations, outline best practices for maintaining robust AML programs, and highlight career pathways in BSA compliance.
Key points:
Bank Secrecy Act
BSA compliance
AML reporting
Suspicious Activity Reports (SARs)
Currency Transaction Reports (CTRs)
Whether you’re a compliance professional, aspiring AML analyst, or job seeker in financial crime prevention, this episode delivers actionable insights to strengthen your understanding of BSA requirements and elevate your skill set.
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United States
