Bank Secrecy Act Basics: 01. Overview of the Bank Secrecy Act
3 min! Run Time
Employees
only
Provided
What you'll learn
Skills covered in this course
Description
Passed in 1970, the Bank Secrecy Act launched the U.S. fight against money laundering and grew into the framework known today as BSA/AML.
What this course covers:
- The history of the Bank Secrecy Act and how it has evolved
- How later regulations expanded BSA and AML obligations
- Which institutions and people the rules apply to
- Who is responsible for enforcing these laws
Ideal for banking and financial staff who need a clear grounding in anti-money laundering fundamentals.
System Requirements
See System Requirements in the Coggno Knowledge Base
Author
Frequently Asked Questions
The course explains that the Bank Secrecy Act was passed in 1970 and launched the U.S. fight against money laundering, growing into the framework known today as BSA/AML through decades of additional rules and regulatory expansion.
This module covers the history of the Bank Secrecy Act and how it has evolved, including how later regulations expanded the original BSA and AML obligations placed on banks and other covered financial institutions over time.
The course identifies which institutions and people the rules apply to, giving learners a clear picture of who falls under BSA obligations before the series moves into more detailed compliance and reporting requirements covered in later courses.
Learners are shown who is responsible for enforcing these laws, rounding out the historical overview with the oversight behind BSA compliance and the agencies that hold institutions accountable for meeting these longstanding federal requirements year after year.
This course is ideal for banking and financial staff who need a clear grounding in anti-money laundering fundamentals before moving into the more specific BSA topics covered later across the Basics and Frontline course series.
