BSA reformed on the traditional bank secrecy system, built up the AML foundation in the US and instituted the AML working system led by one government department and participated by various others. Meanwhile, AML was paid much attention by the majority of Western developed economies and emerging economies. During 1980s-1990s, these countries and regions have successively enacted AML laws.
Switzerland, famous for its strict bank secrecy arrangements, also accepts the international AML practices under international pressure. Starting from July 1 this year, for those who transfer money above a certain amount through anonymous accounts with banks of Switzerland, the banks should make known their true identity.