what are the disadvantages of bank deposits secrecy
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1970
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FIncen
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bank secrecy act
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The Bank Secrecy Act makes it so that financial institutions in
the Unites States are required to assist the United States
government agencies to protect and prevent money laundering.
Solo Savings Bank received an initial deposit of 6000 It kept a percentage of this money in reserve based on the reserve rate and loaned out the rest The amount it loaned out was eventually all dep