When is National Financial Crime Fighter Day?
Thursday October 26thThe Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) professionals are recognized on National Financial Crime Fighter Day (October 26th). Not all superheroes wear capes, but not all superheroes wear capes. They may wear business suits, dresses, or jeans and work in financial institutions' back offices. These are the individuals who safeguard the United States' financial industry. They include law enforcement officers and other government employees.
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Financial crime has a long tradition of financial crime
The drug wars in the 1960s and 1970s resulted in an increase in illicit and illicit incomes entering the US financial system, which is also funding more criminal activities, including opioid and human trafficking.
In 1970, the Banking Secrecy Act (BSA) was passed by Congress to improve anti-money laundering (AML) efforts and avoid criminal financing of criminal enterprises. Following the September 11, 2001 terrorist attacks, the BSA was redesigned. The USA PATRIOT Act was introduced in Congress by the Congress. It cemented the critical role of BSA and AML specialists, as it was announced on October 26, 2001.
