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Banker Resource Center

Bank Secrecy Act / Anti-Money Laundering (BSA/AML)

BSA is the common name for a series of laws and regulations enacted in the United States to combat money laundering and the financing of terrorism. The BSA provides a foundation to promote financial transparency and deter and detect those who seek to misuse the U.S. financial system to launder criminal proceeds, finance terrorist acts, or move funds for other illicit purposes. The BSA requires each bank to establish a BSA/AML compliance program. By statute, individuals, banks, and other financial institutions are subject to the BSA recordkeeping requirements.

Laws and Regulations

Key laws and regulations that pertain to FDIC-supervised institutions; note that other laws and regulations also may apply.

Supervisory Resources

Frequently asked questions, advisories, statements of policy, and other information issued by the FDIC alone, or on an interagency basis, provided to promote safe-and-sound operations.

Other Resources

Supplemental information related to safe-and-sound banking operations.

  • Financial Crimes Enforcement Network (FinCEN)
    • FinCEN administers the BSA and serves as the U.S. Financial Intelligence Unit. FinCEN has the authority to issue BSA regulations, examine financial institutions for compliance, and pursue enforcement actions for BSA-related violations
    • FinCEN maintains a website that has Important Information for Money Services Businesses (MSBs), which identifies MSB-related search engines, regulations, State contacts, and other applicable guidance
    • Financial institutions must use the electronic BSA Forms to comply with applicable filing requirements
    • The FinCEN Financial Institutions Helpline: 1-800-949-2732
  • Office of Foreign Assets Control (OFAC)
    • The OFAC administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals
  • FDIC’s Supervisory Insights — Summer 2017 article, “The Bank Secrecy Act: A Supervisory Update”
  • The Office of National Drug Control Policy coordinates the drug control activities and related funding of 16 Federal Department and Agencies. The High Intensity Drug Trafficking Areas program assists Federal state, and local, and tribal law enforcement operating in area determined to be critical drug trafficking regions of the U.S.
  • FinCEN’s High Intensity Financial Crime Areas program is intended to concentrate law enforcement efforts at the federal, state, and local level to combat money laundering in high intensity money laundering zones
  • The International Narcotics Control Strategy Report is a country-by-country, two volume report that describes the efforts to attack all aspects of the international drug trade, chemical control, money laundering, and financial crimes
  • The Financial Action Task Force (FATF) is an inter-governmental body that develops standards and promotes effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system
  • Basel Committee on Banking Supervision (BCBS)
  • The Wolfsberg Group is an association of 13 global banks, which aims to develop frameworks and guidance for the management of financial crime risks
  • Wolfsberg Correspondent Banking Due Diligence Questionnaire provides information to facilitate completion of the correspondent banking questionnaire
  • National Risk Assessments
  • Reporting Terrorist Activity
    • In the U.S., banking organizations are asked to voluntarily report suspicious transactions related to terrorist activity to law enforcement using the FinCEN’s Financial Institutions Hotline: 1-866-556-3974 — the hotline operates seven days a week, 24 hours a day
    • The U.S. Department of the Treasury’s Office of Terrorism and Financial Intelligence develops and implements strategies and other policies and programs to fight financial crimes as well as combat terrorist financing domestically and internationally
    • The Law Enforcement, Organized Crime and Anti-Money-Laundering Unit of the United Nations Office on Drugs and Crime (UNODC) is responsible for carrying out the Global Program against money laundering, proceeds of crime, and the financing of terrorism. The UNODC also provides a list of helpful money laundering related international organizations and websites

Videos/Webcasts/Teleconferences

Informational videos and recordings of archived webcasts and teleconferences.