Money laundering meaning in telugu: Money Laundering Definition

The United States passed the Banking Security Act in 1970, requiring financial institutions to report certain transactions to the Department of the Treasury, such as cash transactions above $10,000 or any others they deem suspicious, on a suspicious activity report (SAR) . The information the banks provide to the Treasury Department is used by the Financial Crimes Enforcement Network (FinCEN) , which can share it with domestic criminal investigators, international bodies or foreign financial intelligence units.

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