Bank Secrecy Act - Ciphertrace

Bank Secrecy Act

The Bank Secrecy Act (BSA) is U.S. legislation aimed toward preventing criminals from using financial institutions to hide or launder money. Among other things, the law requires financial institutions to provide documentation to regulators whenever their clients deal with suspicious cash transactions involving sums over $10,000.

Note: These are non-technical definitions meant for a general audience and should not be used as legal definition