what type of security clearance is public trust
List of U.S. security clearance terms Despite the common misconception, a public trust position is not a security clearance, and is not the same as the confidential designation. Certain positions which require access to sensitive information, but not information which is classified, must obtain this designation through a background check. Public Trust Positions can either be moderate-risk or high-risk.[2][3]
Bank Secrecy Act The Bank Secrecy Act of 1970 (or BSA, or otherwise known as the Currency and Foreign Transactions Reporting Act) requires financial institutions in the United States 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, and file reports of cash purchases of these negotiable instruments of more than $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities.[1]