Bank Secrecy Act Advisory Group (BSAG)

The Bank Secrecy Act Advisory Group (BSAG) is a committee that helps the U.S. Department of the Treasury develop policies and strategies to combat money laundering, terrorist financing, and other financial crimes. Comprising experts from banking, law enforcement, and regulatory agencies, BSAG provides advice on how to improve laws, regulations, and practices to ensure financial transparency and security. Its goal is to protect the financial system’s integrity while balancing privacy concerns. Essentially, BSAG serves as a bridge between the government and financial institutions to strengthen efforts against illicit financial activities.