Understanding BSA: The Key Player in AML Compliance

Let's get into it! If you're studying for the Certified Anti-Money Laundering Specialist Certification (CAMS)—or just navigating the complexities of AML compliance—you’re going to want to wrap your head around what the acronym BSA really signifies. So, what does BSA stand for? No, it’s not Banking Services Authority or Business Safety Act; it actually stands for the Bank Secrecy Act. This legislation is a cornerstone in the fight against money laundering in the United States.