The 1970 US statute that established the modern AML reporting regime — Currency Transaction Reports, Suspicious Activity Reports and customer recordkeeping.
The Bank Secrecy Act (BSA), enacted in 1970 (codified in 31 U.S.C. § 5311 et seq.), is the foundational US AML statute. It obliges US financial institutions to maintain records, file Currency Transaction Reports (CTRs) for cash transactions over USD 10,000, file Suspicious Activity Reports (SARs) for transactions that appear linked to crime, and run customer due diligence programmes. The BSA created the template that FATF later generalised globally.
Any institution with US-correspondent relationships, USD clearing access or US customers is indirectly bound by BSA expectations through correspondent contracts and FinCEN advisory guidance. The structuring, reporting thresholds and SAR concepts that originate in the BSA are referenced in many non-US AML programmes and in industry training material.
Bucephalus' transaction-monitoring scenarios cover BSA-style structuring, CTR thresholds and SAR-equivalent reporting flows for institutions whose AML governance has US-correspondent or USD-clearing exposure.
