Bank Secrecy Act

The Bank Secrecy Act is a law that helps keep your finances secure. It means banks have to make sure that any money you put in your account is honest money that you’ve earned or been given. Banks have to do this by keeping records of all transactions, or money moving in and out of your account. Banks also need to make sure to look out for any suspicious activity, like someone trying to hide money they have gotten in a way that isn’t allowed. The Bank Secrecy Act helps people keep their finances safe and honest!