Under the Bank Secrecy Act (BSA), financial institutions are required to assist U.S. government agencies in detecting and preventing money laundering. BSA requires financial institutions to

• Keep records of cash purchases of negotiable instruments,
• File reports of cash transactions exceeding $10,000 (daily aggregate amount), and
• Report suspicious activity that might signal criminal activity (e.g., money laundering, tax evasion)

An amendment to the BSA incorporates provisions of the USA Patriot Act, which requires every bank to adopt a customer identification program as part of its BSA compliance program.

File a Suspicious Activity Report (SAR)

Access the Suspicious Activity Report for financial institutions on the Financial Crimes Enforcement Network (FinCEN) web site.

Learn More

• Visit the Financial Crimes Enforcement Network (FinCEN).
• Read the OCC's implementing regulations at 12 CFR 21.11 and 12 CFR 21.21.