The Bank Secrecy Act (BSA) is a federal law that requires financial institutions to maintain certain records and file reports with the government to help prevent financial crimes such as money laundering and terrorist financing. Violations of the BSA program can result in civil or criminal penalties for the financial institution, including fines and even imprisonment for individuals involved.

Some common BSA program violations include:

1. Failure to file Currency Transaction Reports (CTRs): Financial institutions are required to file CTRs for transactions involving more than $10,000 in cash. Failure to file CTRs can result in penalties and fines.
   
   
2. Failure to file Suspicious Activity Reports (SARs): Financial institutions are required to file SARs if they suspect that a transaction involves illegal activity. Failure to file SARs can result in penalties and fines.
   
   
3. Failure to implement an effective anti-money laundering program: Financial institutions are required to have a program in place to detect and prevent money laundering. Failure to implement an effective program can result in penalties and fines.
   
   
4. Know Your Customer (KYC) violations: Financial institutions are required to verify the identity of their customers and assess the risk of their transactions. Failure to properly perform KYC can result in penalties and fines.
   
   
5. Failure to maintain adequate records: Financial institutions are required to maintain certain records, including customer identification information and transaction records. Failure to maintain adequate records can result in penalties and fines.

It is important for financial institutions to comply with the BSA program to help prevent financial crimes and protect the integrity of the financial system.