Complying with the Bank Secrecy Act is constantly evolving and changing. The bad guys always come up with new ways to lie, cheat and you are charged with the important task of mitigating risk, as well as detecting, preventing, and reporting suspicious activity. Some of the more recent areas of BSA focus have been fraud/scams related to the COVID-19 pandemic (i.e., unemployment, health insurance, PPP, vaccines, etc.), cannabis law (marijuana, hemp, etc.), human trafficking, and more.
The Bank Secrecy Act Regulation – 31 CFR Chapter X
FFIEC’s BSA/AML Examination Manual
Financial Crimes Enforcement Network (FinCEN)
FDIC / OCC / Federal Reserve / NCUA
Published
2021/03/31