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Bank Secrecy Act
The Bank Secrecy Act of 1970 (or BSA, or otherwise known as the Currency and Foreign Transactions Reporting Act) requires U.S.A. financial institutions to assist U.S. government agencies to detect and prevent money laundering. Specifically, the act requires financial institutions to keep records of cash purchases of negotiable instruments, file reports of cash transactions exceeding $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities. It was passed by the Congress of the United States in 1970. The BSA is sometimes referred to as an "anti-money laundering" law ("AML") or jointly as “BSA/AML”. Several anti-money laundering acts, including provisions in title III of the USA PATRIOT Act, have been enacted up to the present to amend the BSA. (See 31 USC 5311-5330 and 31 CFR 103.)
Swiss Bank Secrecy Laws No More?
In the aftermath of the IRS UBS settlement, a pertinent question arises – how secret are Swiss bank secrecy laws? Once the unquestionable bastion of confidential banking, now with Swiss bank UBS revealing details of 4,450 of its US account holders suspected of tax evasion to the IRS, the secrecy in Swiss banking is no longer a given...
UBS may have to lift Swiss bank veil of secrecy
Switzerland's once proud banks may have to lift their celebrated secrecy, the
chairman of UBS admitted today, as he sought to deflect claims of
involvement in tax fraud in the US where the group is under official
investigation.
Bank Secrecy, Tax Havens and International Tax Competition
The Tax Foundation has published a 12-page special report, Bank Secrecy, Tax Havens and International Tax Competition, by Robert Carroll: Carroll acknowledges the need to target tax evasion, as the proposal does, but he argues that ending tax deferral is...
Lawsuit Seeks End To Bank Cybercrime Secrecy
Source: InformationWeek Daily Newsletter, August 21, 2009.
Lawsuit Seeks End To Bank Cybercrime Secrecy"Business bank accounts are being looted in a surge of cybercrime, leaving companies with serious losses...
BANK SECRECY ACT GUNS DOWN SHERIFF OF WALL STREET
In a truly timely keynote presentation, the Executive Director of the Electronic Privacy and Information Center analyzed the investigation that finally resulted in the abrupt termination of Elliot Spitzer?s tenure as New York?s governor...
UBS client challenges Swiss plan to end bank secrecy
An American client of UBS has gone to court to challenge Switzerland?s
controversial plan to divulge details of once-secret bank accounts to US
investigators.
How do you recover money from a stop payment placed on a personal check given to you?
you can always take them to small claims court and sure them for 3 times the amo...
How to prove child support payments were sent by US Mail?
Your best bet is to send the checks via certified mail return receipt requested....
Some elses debt is being reported by a bank to the crecit agencies. They know and have ackowledged it is not mine, yet it is still being listed as mine. it was my son's and no I didn't co-sign. It is adversly
It is easy for the bank and the credit reporting agencies to clear this confusio...
My job requires me to drive bank deposits up to two times a day using my own vehicle and gas. Although not too far, can should I be receiving compensation? One deposit run is required daily by company policy, but the man
you should be getting a mileage comp. I own my own company and I pay my employee...
Does a Chapter 7 bankruptcy discharge a secured mortgage loan?
Yes if you file they cannot sue you to the knowledge I know. My brother is in re...
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How do you recover money from a stop payment placed on a personal check given to you?
you can always take them to small claims court and sure them for 3 times the amo...
How to prove child support payments were sent by US Mail?
Your best bet is to send the checks via certified mail return receipt requested....
Some elses debt is being reported by a bank to the crecit agencies. They know and have ackowledged it is not mine, yet it is still being listed as mine. it was my son's and no I didn't co-sign. It is adversly
It is easy for the bank and the credit reporting agencies to clear this confusio...
My job requires me to drive bank deposits up to two times a day using my own vehicle and gas. Although not too far, can should I be receiving compensation? One deposit run is required daily by company policy, but the man
you should be getting a mileage comp. I own my own company and I pay my employee...
Does a Chapter 7 bankruptcy discharge a secured mortgage loan?
Yes if you file they cannot sue you to the knowledge I know. My brother is in re...
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