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

  • Office of Foreign Assets Control (OFAC)

    Office of Foreign Assets Control. A US regulatory Agency that is responsible for monitoring funds held or transferred to illegal entities. The OFAC list is a list of companies/individuals that should be prevented from sending/receiving...

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  • Red Flag

    A potentially suspicious or money laundering situation raises a Red Flag or warning signal.

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