In This Presentation:
- The BSA from 30,000 Feet
- ABCs of the BSA for MSBs
- Impact on Customer Acquisition
- BSA/AML Enforcement
- Current Topics and Resources
Excerpt from The BSA from 30,000 Feet
..Intent of the BSA is to abate money laundering
..3 R’s: Registration, Record-Keeping and Reporting
..Requires Anti-Money Laundering (“AML”) programs – the “Four Pillars”
..Criminalizes money laundering
..Enacted in 1970
..Money laundering criminalized in 1986
..Major expansion in 2001 under USA PATRIOT Act
Please see full presentation below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.
Topics: Bank Secrecy Act, FFIEC, FinCEN, IRS, Mobile Payments, Money Laundering, OFAC, Patriot Act, Recordkeeping Requirements, Registration, Reporting Requirements
Published In: Administrative Agency Updates, General Business Updates, Criminal Law Updates, Finance & Banking Updates, International Trade Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© Davis Wright Tremaine LLP | Attorney Advertising