In This Presentation:

- The BSA from 30,000 Feet

- ABCs of the BSA for MSBs

- Impact on Customer Acquisition

- BSA/AML Enforcement

- Current Topics and Resources

Excerpt from The BSA from 30,000 Feet

..Intent of the BSA is to abate money laundering

..Major Provisions

..3 R’s: Registration, Record-Keeping and Reporting

..Requires Anti-Money Laundering (“AML”) programs – the “Four Pillars”

..Criminalizes money laundering

..BSA Timeline

..Enacted in 1970

..Money laundering criminalized in 1986

..Major expansion in 2001 under USA PATRIOT Act