Statements (65)
| Predicate | Object |
|---|---|
| gptkbp:instance_of |
gptkb:United_States_federal_law
|
| gptkbp:aims_to_improve |
money laundering
|
| gptkbp:amended_by |
gptkb:USA_PATRIOT_Act
|
| gptkbp:applies_to |
banks
credit unions money services businesses securities brokers |
| gptkbp:date_enacted |
gptkb:1970
|
| gptkbp:effective_date |
October 26, 1970
|
| gptkbp:enacted_by |
gptkb:United_States_Congress
|
| gptkbp:enforces |
gptkb:Financial_Crimes_Enforcement_Network_(Fin_CEN)
regulatory audits |
| gptkbp:facilitates |
investigations of financial crimes
|
| gptkbp:has_implications_for |
tax evasion prevention
terrorist financing prevention |
| https://www.w3.org/2000/01/rdf-schema#label |
Bank Secrecy Act
|
| gptkbp:impact |
financial compliance regulations
|
| gptkbp:influenced_by |
international anti-money laundering standards
|
| gptkbp:is_criticized_for |
privacy concerns
lack of clarity in regulations burden on small businesses complexity of compliance requirements |
| gptkbp:is_evaluated_by |
risk assessments
compliance reviews |
| gptkbp:is_implemented_in |
financial institutions' compliance programs
|
| gptkbp:is_monitored_by |
regulatory bodies
|
| gptkbp:is_part_of |
U. S. financial regulatory framework
U. S. Treasury regulations U. S. anti-money laundering strategy U. S. financial crime prevention efforts |
| gptkbp:is_promoted_by |
financial compliance organizations
|
| gptkbp:is_related_to |
gptkb:Dodd-Frank_Wall_Street_Reform_and_Consumer_Protection_Act
gptkb:Banking_Act_of_1933 gptkb:Foreign_Account_Tax_Compliance_Act_(FATCA) gptkb:Money_Laundering_Control_Act_of_1986 Know Your Customer (KYC) regulations Office of Foreign Assets Control (OFAC) regulations |
| gptkbp:is_subject_to |
legal challenges
international scrutiny |
| gptkbp:is_supported_by |
gptkb:financial_institutions
law enforcement agencies anti-corruption advocates |
| gptkbp:is_updated_by |
legislative amendments
|
| gptkbp:promotes |
transparency in financial transactions
|
| gptkbp:provides |
guidelines for recordkeeping
|
| gptkbp:purpose |
to prevent money laundering
|
| gptkbp:regulates |
gptkb:financial_institutions
|
| gptkbp:regulatory_compliance |
fines
criminal charges |
| gptkbp:related_to |
anti-money laundering (AML) laws
Anti-Money Laundering (AML) laws Financial Action Task Force (FATF) recommendations |
| gptkbp:requires |
filing of Currency Transaction Reports (CTRs)
filing of Suspicious Activity Reports (SARs) reporting of cash transactions over $10,000 financial institutions to report certain transactions suspicious activity reports (SARs) customer identification programs reporting of foreign bank accounts customer identification programs (CIP) financial institutions to maintain records of cash purchases monitoring of large cash transactions training for employees on compliance |
| gptkbp:bfsParent |
gptkb:Fin_CEN
|
| gptkbp:bfsLayer |
5
|