BSA — Bank Secrecy Act

Bank Secrecy Act — the primary US anti-money laundering law requiring financial institutions (including MSBs) to maintain compliance programs, file reports, and keep records. paype operates under BSA requirements via its FinCEN registration.

The BSA requires paype to verify customer identities, monitor transactions for suspicious activity, file Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) when required, and maintain records for at least five years.