---
title: Components of a Money Laundering Scheme
description: Learn about the crucial components of a money laundering scheme and the importance of a robust BSA Program for financial institutions to detect and prevent illicit activities.
---

[Banker's Compliance Consulting Blog ](https://blog.bankerscompliance.com/en)

# [Components of a Money Laundering Scheme](https://blog.bankerscompliance.com/en/components-of-a-money-laundering-scheme)

 Written by [Kevin Edwards](https://blog.bankerscompliance.com/en/author/kevin-edwards) | Dec 3, 2024 4:38:43 PM

The [Bank Secrecy Act](https://www.fdic.gov/banker-resource-center/bank-secrecy-act-anti-money-laundering-bsaaml) was implemented to help detect and prevent money laundering and terrorist financing. Your Board of Directors is tasked with ensuring your institution has implemented a BSA Program that accomplishes that goal. This includes filing required forms like CTRs and SARs, collecting and verifying beneficial ownership information and on and on. Having a general understanding of the different components of a typical money laundering scheme can be beneficial to your Board and senior management when it comes to assessing the potential risks and your mitigation strategies

Kevin explains more in the video.

[ Learn More about Your AML/CFT Partners! ](https://cta-service-cms2.hubspot.com/web-interactives/public/v1/track/click?encryptedPayload=AVxigLLvHchKoJwVXCDzT6dUD1ByF8rrEz9DjiuxBns%2BZsD1%2B2rMB2UMr8QKhnPZIwhoN%2FemFAKBjNTJvgWo8Nt%2Fop7o81fG3GTATmMmtW9%2B2vvZP3at3sTDwI7T1cktxFW5IVjXVY%2F5S23Sc1F5EKBkGbDZbowOmJOXlA2FNITTzddn2%2BgxTRA%2F8EVI9yR0wZi%2BriIlEhaDtHPi8nHW9beW3ESejn0D9b%2BzvPk%3D&portalId=21201105) 

Published  
2024/12/03

 

[View full post](https://blog.bankerscompliance.com/en/components-of-a-money-laundering-scheme)

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