What term refers to programs to combat money laundering and trafficking?

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Multiple Choice

What term refers to programs to combat money laundering and trafficking?

BSA/AML Programs refer to the structured set of policies, procedures, and controls that financial institutions implement to detect, prevent, and report illicit financial activity, including proceeds from human trafficking. This framework covers customer due diligence, ongoing transaction monitoring, risk assessment, and reporting of suspicious activity (like SARs) or currency transactions (CTRs) to authorities. It’s the actual program used to comply with the Bank Secrecy Act and related regulations, making it the best answer for “programs to combat money laundering and trafficking.” The other options point to a specific law (the AML Act of 2020), a general cyber-crime category, and a trafficking hotline—resources or laws rather than the comprehensive program framework.

BSA/AML Programs refer to the structured set of policies, procedures, and controls that financial institutions implement to detect, prevent, and report illicit financial activity, including proceeds from human trafficking. This framework covers customer due diligence, ongoing transaction monitoring, risk assessment, and reporting of suspicious activity (like SARs) or currency transactions (CTRs) to authorities. It’s the actual program used to comply with the Bank Secrecy Act and related regulations, making it the best answer for “programs to combat money laundering and trafficking.”

The other options point to a specific law (the AML Act of 2020), a general cyber-crime category, and a trafficking hotline—resources or laws rather than the comprehensive program framework.

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