How To Keep Up With Changes In BSA Requirements

The Bank Secrecy Act (BSA), requires all financial institutions to collaborate with the US government to combat monetary crimes as well as the prevention of money laundering.

Turn on Google Alerts

Google Alerts is one of the most effective and easiest ways to help monitor online mentions of any entity or keyword in real-time. It enables you to receive periodic and automated email alerts for desired keywords. Once Google’s search bot indexes a piece of content relevant to your desired keyword, you will receive an email notification.

Here is how you easily can set up Google Alerts:

  • Search “Google Alerts” and click on the link to visit the page

  • You will find a box on top, simply enter a topic you wish to follow

  • In case you wish to change or tweak the settings, you can adjust:

    • How often you want to get the notifications

    • Types of websites you will see

    • Your preferred language

    • Regions of the world, from where you want to receive the information

    • Number of results you would want to see

    • What accounts do you want to get the alerts on

  • Now click on “Create Alert,” and you are all set. Whenever Google search bot finds matching results, you will get an email notification.

If you are a financial institution, you’ll likely want updates on the developments in the financial industry and related BSA rules and regulations. Thus, using the method mentioned above, you can create Google Alerts for the following keywords:

  • BSA requirements

  • AML requirements

  • AML/BSA compliances

  • Money Laundering regulations

Keep Your Eye on the Money Laundering Watch

If you are looking for a reputable source to stay up to date about BSA/AML requirements, check out Money Laundering Watch is a newsletter initiative that gives real time updates on changes in the financial industry including major AML crimes worldwide!

We highly recommend that you sign up for their newsletter to receive consistent updates on issues that are relevant to financial institutions.

Set Up Consistent Meetings with BSA Officers

Every financial institution should have a BSA officer on staff. In fact, it’s one of many obligations for financial establishments to remain BSA compliant. This officer is responsible for overseeing internal anti-money laundering procedures and policies and ensures to stay compliant with BSA requirements.

A BSA officer should have considerable understanding and experience navigating the financial regulatory landscape and related risk management strategies.

So, it is a good idea to set up constant training programs with the BSA officer to transfer his knowledge to the entire company, making sure all employees are up to date on AML changes and compliance efforts

Attend AML Conferences

The best way to understand how to navigate changes to AML and BSA requirements is to see how other financial institutions are handling it internally. Luckily, there are AML and BSA conferences that happen periodically throughout the year.

Here are the two most popular conferences to be aware of:

  • ABA/ABA – Financial Crime Enforcement Conference

    • Every year, two of the leading powerhouse financial organizations, the American Bar Association and the American Bank Association, collaborate to put on the Financial Crime Enforcement Conference. The goal is to educate financial institutions about the latest trends and regulations to safeguard their interests.

Invest In Up-To-Date Software

If you are a financial institution looking for an automated BSA/AML compliant solution, Intellicheck has excellent solutions for both in-person and person-not-present modules. These solutions are easy to use and can be integrated into most POS systems. 

Additionally, as different industries have different needs, Intellicheck is customizable to your specific compliance requirements. Having Intellicheck in place allows financial institutions to catch fraudsters with the highest possible accuracy by simply scanning an ID. 


To see a recorded demo, click here.

A transaction takes place every time you scan /validate an ID.

The transactions that you purchase are available for use for up to one year from the purchase date. When you run out of transactions, you automatically purchase another bucket of the same number of transactions that you originally purchased.

Groups allow you to set-up notifications that are shared across a specific set of devices. For instance if you marked a person as “do not serve” that alert would show when their ID was scanned by any user in the group.

Once you fill in the application form and are approved for purchase, you will be sent a credit card payment link. Once you have made your first payment, then Intellicheck will get you set up and ready to go.

Intellicheck Mobile is the app that your employees use to scan IDs. Once you have your account set-up, you can go to the Apple App Store or Google Play Store to download it for your device. Google Play Store Apple App Store

Standard pricing includes up to 5 devices. These devices will require a separate login, and can be set on the Intellicheck Admin Portal. Customers receive a link to the Admin Portal after they are set up.