Bank Secrecy Act (31 U.S.C.) § 5311 — Declaration of purpose
Bank Secrecy Act (31 U.S.C.), §5311 Declaration of purpose. Captured section-complete from Cornell LII (verbatim).
Verbatim regulatory text
Verbatim provisions from Bank Secrecy Act (31 U.S.C.) § 5311 — Declaration of purpose — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
31 U.S.C. §5311
It is the purpose of this subchapter (except section 5315 ) to— (1) require certain reports or records that are highly useful in— (A) criminal, tax, or regulatory investigations, risk assessments, or proceedings; or (B) intelligence or counterintelligence activities, including analysis, to protect against terrorism; (2) prevent the laundering of money and the financing of terrorism through the establishment by financial institutions of reasonably designed risk-based programs to combat money laundering and the financing of terrorism; (3) facilitate the tracking of money that has been sourced through criminal activity or is intended to promote criminal or terrorist activity; (4) assess the money laundering, terrorism finance, tax evasion, and fraud risks to financial institutions , products, or services to— (A) protect the financial system of the United States from criminal abuse; and (B) safeguard the national security of the United States ; and (5) establish appropriate frameworks for information sharing among financial institutions , their agents and service providers, their regulatory authorities, associations of financial institutions , the Department of the Treasury , and law enforcement authorities to identify, stop, and apprehend money launderers and those who finance terrorists. (Added Pub. L. 116–283, div. F, title LXI, § 6101(a) , Jan. 1, 2021 , 134 Stat. 4549 .)