Glossary

Bank Secrecy Act (BSA)

Requires financial institutions in the United States to assist U.S. government agencies to detect and prevent money laundering.

Related Terms

  • Previously Used Routing Number

    A routing number that was once the primary routing number for an institution and since replaced, but still accepted for payments.

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  • Know Your Customer (KYC)

    Know Your Customer is the due diligence and bank regulation that financial institutions and other regulated companies must perform to identify their clients and ascertain relevant information pertinent to doing financial business with them.

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