Bank Secrecy Act (BSA)
[CITE: 31CFR103.90]
Title 31--Money and Finance: Treasury
CHAPTER I--MONETARY OFFICES, DEPARTMENT OF THE TREASURY
PART 103--FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND FOREIGN TRANSACTIONS
Subpart H_Special Information Sharing Procedures To Deter Money Laundering and Terrorist Activity
Sec. 103.90 Definitions.
For purposes of this subpart, the following definitions apply:
- (a) Money laundering means an activity criminalized by 18 U.S.C. 1956 or 1957.
- (b) Terrorist activity means an act of domestic terrorism or international terrorism as those terms are defined in 18 U.S.C. 2331.
- (c) Account means a formal banking or business relationship established to provide regular services, dealings, and other financial transactions, and includes, but is not limited to, a demand deposit, savings deposit, or other transaction or asset account and a credit account or other extension of credit.
- (d) Transaction.
- (1) Except as provided in paragraph (d)(2) of this section, the term "transaction" shall have the same meaning as provided in Sec. 103.11(ii).
- (2) For purposes of Sec. 103.100, a transaction shall not mean any transaction conducted through an account.
[67 FR 60585, Sept. 26, 2002]
