financial crimes enforcement network

What is the Bank Secrecy Act (BSA) and its significance?

The Bank Secrecy Act (BSA) is a key piece of legislation that mandates financial institutions to maintain certain records and file specific reports that are useful in investigating and prosecuting money laundering and other financial crimes. Compliance with the BSA is critical for businesses to avoid penalties and reputational damage.

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What is the Financial Crimes Enforcement Network (FinCEN)?
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What is the Bank Secrecy Act (BSA) and its significance?
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