What is National Financial Crime Fighter Day?
The Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) professionals are recognized on National Financial Crime Fighter Day on October 26th. Not all superheroes wear capes, because not all superheroes wear capes. They may wear business suits, dresses, or jeans and work in financial institutions' back offices. These are the people who safeguard the United States' financial industry. They include law enforcement officers and other government employees.
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A history of financial crime has a long tradition of financial crime
During the 1960s and 1970s, the drug wars 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, Congress passed the Banking Secrecy Act (BSA) to improve anti-money laundering (AML) efforts and discourage criminal financing of criminal enterprises. The BSA was upgraded following the September 11, 2001 terrorist attacks. The USA PATRIOT Act was introduced in Congress by Congress. BSA and AML professionals' vital role was reiterated by Signed on October 26, 2001, which solidified the company's key role.
