Under theBank Secrecy Act(BSA), financial institutions are required to assist U.S. government agencies in detecting and preventing money laundering, such as:

• Keep records of cash purchases of negotiable instruments,
• File reports of cash transactions exceeding $10,000 (daily aggregate amount), and
• Report suspicious activity that might signal criminal activity (e.g., money laundering, tax evasion)

Q: Research existing litigation involving the BSA (there are many cases), explain any case(s) you choose and what the potential impact may be on those working in Financial professions as private practitioners, for Federal, State, or Local Government, and for Corporations depending on how the case may be resolved