All BSA compliance articles
Serving a vital purpose for the U.S. financial system, the Bank Secrecy Act (BSA) protects its individual members from being used to finance illegal activity. But at 50 years old, its ability to achieve that purpose has not kept pace with an ever-evolving world, as the law remains largely unchanged ...
Who faces liability when a Bank Secrecy Act program is deemed to be deficient? A series of recent enforcement actions taken by the OCC against individuals at a now-defunct New Jersey bank provides a case study.