In 1970, Congress passed the Bank Secrecy Act. At the time, the BSA was the first legislation created to specifically fight money laundering in the United States. The BSA requires businesses to keep records and file reports that are determined to have a high degree of usefulness in criminal, tax and regulatory matters.

Since its inception, the BSA remains the primary U.S. anti-money laundering, or AML, law, but it has been amended, updated, and refined, particularly since the 9-11 attacks, to help law enforcement to better detect, deter and disrupt the financing of terrorist networks.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]