What is the AML regime in the United States?
The Bank Secrecy Act 1970 (BSA), as amended by the USA PATRIOT Act 2001 and the Anti-Money Laundering Act 2020 (part of the NDAA 2021), is the foundational federal AML statute. Administered by FinCEN (Treasury), with examination by the prudential regulators (OCC, FRB, FDIC, NCUA) and the SEC / FINRA / CFTC for their respective registrants. Core obligations: AML programme (4 pillars, now 5 with the BSA officer + risk-based approach), CDD Rule, CTR (≥ USD 10,000 cash), SAR filing, and OFAC compliance (separate but adjacent regime).