Which of the following is a primary goal of BSA compliance?

Preventing and detecting money laundering and terrorist financing is a primary goal of Bank Secrecy Act (BSA) compliance because the BSA was established to combat the use of the financial system for illegal activities. The Act requires financial institutions to report suspicious activities and maintain records that can help law enforcement identify and prevent financial crimes.

Specifically, the BSA imposes obligations such as filing reports on currency transactions over a certain amount and suspicious activity reports (SARs) when there are indications of money laundering or other illicit financial activities. By meeting these requirements, institutions play a critical role in maintaining the integrity of the financial system and supporting efforts to reduce financial crimes, which is fundamental to BSA compliance.

The other options, although they may be beneficial outcomes of BSA compliance, do not capture the law's primary intent. Maximizing profits, for example, may lead to neglecting compliance duties if there's a focus solely on financial gain, while reducing workload could potentially compromise compliance efforts. Enhancing branding may improve customer perception but is not an intended goal of the BSA regulations.