!!! Overview
[{$pagename}] ([BSA]) of [1970|Year 1970] is an [Act of Congress] codified in [Public Law] 91-508 requires [Financial Institutions] in the [United States] to assist [United States Federal Agency] in [Anti-Money Laundering]. 

Specifically, the act requires [Financial Institutions] to keep records of [cash] purchases of negotiable instruments, and file reports of cash purchases of these negotiable instruments of more than $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, [Tax Evasion], or other [criminal] activities.

[Internal Revenue Service] uses form 8300 for [{$pagename}] reporting.[2]

[{$pagename}] is administrated by the [Financial Crimes Enforcement Network] ([FinCEN]).

[{$pagename}] places a high [Regulatory Burden]


[{$pagename}] requires that [Financial Institutions] [MUST] keep records of cash transactions summing to more than $10,000 in one day and report suspicious transactions to the [United States federal government]. In addition, people coming into the [United States] from foreign countries (including US [citizens]) must declare cash or other negotiable instruments they are bringing into the country if the amount exceeds $10,000.


One hidden cost of inflation is that it makes an increasingly large share of cash holdings and transactions subject to [Government] [Surveillance]. As an [Example], $10,000 in [1970|Year 1970] is equivalent to $65,000 in [2018|Year 2018].

!! Category
%%category [Government Surveillance]%%

!! More Information
There might be more information for this subject on one of the following:
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* [#1] - [Bank_Secrecy_Act|Wikipedia:Bank_Secrecy_Act|target='_blank'] - based on information obtained 2017-02-11- 
* [#2] - [Form 8300 and Reporting Cash Payments of Over $10,000|https://www.irs.gov/businesses/small-businesses-self-employed/form-8300-and-reporting-cash-payments-of-over-10000|target='_blank'] - based on information obtained 2018-01-04-