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Bank Secrecy Act (BSA)

A law that requires financial institutions to help U.S. government agencies detect and prevent money laundering. It requires them to keep records, file reports on certain transactions (like large cash transactions), and report suspicious activity.

Financial Crimes Enforcement Network (FinCEN)

A bureau within the U.S. Department of the Treasury that collects and analyzes financial transaction information to combat domestic and international money laundering, terrorist financing, and other financial crimes.

Currency Transaction Report (CTR)

A report that banks and other financial institutions must file with FinCEN for cash transactions exceeding $10,000 made by a single person or on behalf of a single person in one business day.

Suspicious Activity Report (SAR)

A report that financial institutions must file with FinCEN if they suspect that funds are derived from illegal activity or that a transaction is designed to evade Bank Secrecy Act requirements.

Form 8300 Report

A report filed with the IRS by businesses that receive more than $10,000 in cash from a single transaction or a series of related transactions. This data is also accessible by FinCEN.

Beneficial Ownership Information (BOI)

Information identifying the true owners of companies, rather than just the legal or nominal owners. This data is collected by FinCEN to prevent criminals from hiding their identities through shell companies.