Davis Polk partner Dan Stipano discussed the Bank Secrecy Act (BSA) and its significance for anti-money laundering efforts with Politico’s Morning Money newsletter. The BSA establishes program, recordkeeping and reporting requirements for financial institutions to ensure they have controls in place to deter and detect money laundering and other criminal acts.

“If you roll back the BSA, it would be an open invitation for all these criminal groups to come here and launder money,” Dan explained.

“Why Jan. 6 looms over banking,” Morning Money (April 4, 2024) 

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