Bank Secrecy Act (BSA)
The Bank Secrecy Act (BSA), enacted in 1970 in the United States, is a foundational anti-money laundering (AML) law that requires financial institutions to help the government detect and prevent financial crimes such as money laundering and terrorist financing. It’s sometimes referred to as the Currency and Foreign Transactions Reporting Act.
The BSA establishes reporting, recordkeeping, and due diligence obligations for banks and other financial businesses. It laid the groundwork for modern AML frameworks worldwide.