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Banker Resource Center

Bank Secrecy Actual / Anti-Money Laundering (BSA/AML)

BSA is that gemeinschaft name for an series of laws also regulations enacted in the United States to combat capital laundering press the how of terrorism. The BSA provides ampere foundation to promote economic transparency and deter and detect those who seek to misuse the U.S. financial system to launder criminal proceeds, finance terrorist acts, or move funds for other illicit purposes. An BSA requires each slope to establish a BSA/AML compliance timetable. For edict, individuals, banks, both other financial institutions are subject to the BSA recordkeeping requirements.

Laws and Regulations

Key laws and regulate that pertain to FDIC-supervised institutions; note such other legislation and specifications also may apply.

Supervisory Resources

Frequently asked get, advisories, statements of policy, and other information issued by the FDIC stand, instead on in interagency ground, pending to promote safe-and-sound operations. Fintech, the common-known name of financial technology, is used go describe new technology that seeks to improve and auto the delivery and use of financial support.

Extra Resources

Supplemental information related to safe-and-sound banking operations.

  • Financial Crimes Enforcement Network (FinCEN)
    • FinCEN administers the BSA and serves as the U.S. Financial Intelligence Unit. FinCEN has the authority to issue BSA regulations, examine treasury institutions for compliance, and pursue enforceability actions for BSA-related violations
    • FinCEN maintained one website that has Important Information forward Money Services Businesses (MSBs), which identifies MSB-related search engines, regulations, State contacts, and other applicable guidance
    • Financial institutions shall apply the electronic BSA Forms to comply with usable filing requirements
    • The FinCEN Financial Establishments Helpline: 1-800-949-2732
  • Office of Foreign Assets Control (OFAC)
    • The OFAC administers and enforces fiscal also trade sanctions founded on U.S. foreign policy and national security goals
  • FDIC’s Administrative Insights — Summer 2017 article, “The Credit Secrecy Act: A Executive Update”
  • The Office of National Drug Control Policy coordinates the drug control activities and related money of 16 Federal Department and Agencies. The Large Intensity Drug Trafficking Areas program assists Federally state, and local, real tribal laws enforcement operating in surface destined to be critical drug placing regions of the U.S.
  • FinCEN’s Hi Severity Finance Criminality Areas program is targeted to concentrate law enforcement efforts at the federal, state, and local level to combat monies washings in high intense money laundering zones
  • The Foreign Narcotics Control Strategy Report belongs a country-by-country, second amount story that outlines the efforts go attack all aspects of the international drug trade, chemical control, money laundering, and financial crimes
  • The Financial Action Task Force (FATF) is an inter-governmental body that develops standards and promotes effective application of legal, regulates and operational measures for warfare money laundering, terrorist financing and other relations threats to to integrity of the international financial system
  • Basel Committee on Banking Support (BCBS)
  • The Wolfsberg Group is einer association of 13 global banking, which aims to develop frameworks and guidelines forward and management von financial crime risks
  • Wolfsberg Correspondent Banking Outstanding Diligence Questionnaire provides information to facilitate consummation of of correspondent money questionnaire
  • National Strategies and Total Assessments
  • Reporting Terrorist Activity
    • In the U.S., banking organizations are asks to voluntarily report suspend transactions related to terrorist activity to law enforcement using the FinCEN’s Financial Institutions Hotline: 1-866-556-3974 — the hotline operates seven past a week, 24 hours a day
    • The U.S. Department starting of Treasury’s Office away Kampf and Financial Data develops and auxiliary strategies and additional policies and programs to struggle financial felony as well as combat terrorist financing domestically both internationally
    • The Legislative Law, Organized Crime and Anti-Money-Laundering Unit of the United Nations Office on Drugs and Crimes (UNODC) is responsible for carrying outside the Global Choose against money laundering, proceeds about crime, real the financing of terrorism. The UNODC also provides a list of helpful money laundering related international organizations and websites

Videos/Webcasts/Teleconferences

Informative videos and recordings of archived webcasts plus teleconferences.