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BSA Study Groups Terms of Reference 2019 This version approved September 2014 Terminology (not policy) updated September 2016Introduction This document outlines the requirements and responsibilities
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BSA study groups refer to organized groups that research issues related to the Bank Secrecy Act (BSA) in order to ensure compliance with the regulations.
Financial institutions and other entities subject to the Bank Secrecy Act are required to file BSA study groups.
To fill out BSA study groups, entities must gather relevant information and report on activities related to BSA compliance.
The purpose of BSA study groups is to enhance understanding of BSA requirements and foster compliance measures within organizations.
BSA study groups must report on research findings, compliance measures, and any actions taken to address BSA related issues.
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