What is the Bank Secrecy Act of 1970? How has the advent of computer technologies created ways around this Act?
What are urban legends? How have these "legends" changed over the course of the last two decades?
What is a firewall? Identify and explain at least three functions of a firewall.
How are new security technologies altering the face of user identification?
The Bank Secrecy Act of 1970 requires U.S.A. financial institutions to assist U.S. government agencies to detect and prevent money laundering. Specifically, the act requires financial institutions to keep records of cash purchases of negotiable instruments, file reports of cash transactions exceeding $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities.- http://en.wikipedia.org/wiki/Bank_Secrecy_Act_of_1970.
Computer technologies didn't really create ways to get around the act but rather made it easier to abide by. A computerized United Crimes Elimination Network ("UCEN") utilizes the infrastructure established by the Bank Secrecy Act and the permission granted ...