Series 51: Applicable Federal Laws

Taken from our Series 51 Online Guide

Applicable Federal Laws

The Bank Secrecy Act (1970) was the first federal government attempt to address money laundering. Its original provisions required financial institutions to keep records of cash purchases of negotiable instruments, to file reports of cash transactions exceeding $10,000, and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities. It authorized the Department of the Treasury to issue regulations

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