Bank Secrecy Act/Anti-Money Laundering Examination Manual - ffiec

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International Transportation of Currency or Monetary Instruments Reporting — Overview International Transportation of Currency or Monetary Instruments Reporting — Overview Objective. Assess the bank’s compliance with statutory and regulatory requirements for the reporting of international shipments of currency or monetary instruments. Each person 116 (including a bank) who physically transports, mails, or ships currency or monetary instruments in excess of $10,000 at one time out of or into the United States (and each person who causes such transportation, mailing, or shipment), must file a Report of International Transportation of Currency or Monetary Instruments (CMIR) (FinCEN Form 105). 117 A CMIR must be filed with the appropriate Bureau of Customs and Border Protection officer or with the commissioner of Customs at the time of entry into or departure from the United States. When a person receives currency or monetary instruments in an amount exceeding $10,000 at one time that have been shipped from any place outside the United States, a CMIR must be filed with the appropriate Bureau of Customs and Border Protection officer or with the commissioner of Customs within 15 days of receipt of the instruments (unless a report has already been filed). The report is to be completed by or on behalf of the person requesting transfer of the currency or monetary instruments. However, banks are not required to report these items if they are mailed or shipped through the postal service or by common carrier. 118 In addition, a commercial bank or trust company organized under the laws of any state or of the United States is not required to report overland shipments of currency or monetary instruments if they are shipped to or received from an established customer maintaining a deposit relationship with the bank and if the bank reasonably concludes the amounts do not exceed what is commensurate with the customary conduct of the business, industry, or profession of the customer concerned. Management should implement applicable policies, procedures, and processes for CMIR filing. Management should review the international transportation of currency and monetary instruments and determine whether a customer’s activity is usual and 116 As defined in 31 CFR 103.11(z), the term “person” means an individual, a corporation, a partnership, a trust or estate, a joint stock company, an association, a syndicate, joint venture or other unincorporated organization or group, an Indian Tribe (as that term is defined in the Indian Gaming Regulatory Act), and all entities cognizable as legal personalities. 117 The obligation to file the CMIR is solely on the person who transports, mails, ships or receives, or causes or attempts to transport, mail, ship, or receive. No other person is under any obligation to file a CMIR. Thus, if a customer walks into the bank and declares that he or she has received or transported currency in an aggregate amount exceeding $10,000 from a place outside the United States and wishes to deposit the currency into his or her account, the bank is under no obligation to file a CMIR on the customer’s behalf (Treasury Administrative Ruling 88-2). 118 In contrast, a bank is required to file a CMIR to report shipments of currency or monetary instruments to foreign offices when those shipments are performed directly by bank personnel, such as currency shipments handled by bank employees using bank-owned vehicles. FFIEC BSA/AML Examination Manual 132 7/28/2006
International Transportation of Currency or Monetary Instruments Reporting — Overview customary for the type of business. If not, a Suspicious Activity Report should be considered. FFIEC BSA/AML Examination Manual 133 7/28/2006
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Bank Secrecy Act / Anti-Money Laund
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Table of Contents Examination Proce
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INTRODUCTION Introduction This Fede
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Background Introduction In 1970, Co
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U.S. Treasury Introduction The BSA
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Introduction international narcotic
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Introduction Other legitimate sourc
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Scoping and Planning — Overview C
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Scoping and Planning — Overview T
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Scoping and Planning — Examinatio
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Scoping and Planning — Examinatio
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BSA/AML Risk Assessment — Overvie
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BSA/AML Risk Assessment — Overvie
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• High Intensity Financial Crime
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Examiner Development of a BSA/AML R
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BSA/AML Risk Assessment — Examina
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BSA/AML Compliance Program — Over
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BSA/AML Compliance Program — Exam
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BSA/AML Compliance Program — Exam
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Independent Testing BSA/AML Complia
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Developing Conclusions and Finalizi
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Developing Conclusions and Finalizi
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Customer Identification Program —
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Customer Information Required Custo
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Transaction Testing Customer Identi
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Customer Due Diligence — Overview
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Customer Due Diligence — Examinat
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Suspicious Activity Reporting — O
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Law Enforcement Inquiries and Reque
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Suspicious Activity Reporting — E
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CTR Backfiling Currency Transaction
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Currency Transaction Reporting —
Page 85 and 86: Annual Review Currency Transaction
Page 87 and 88: Currency Transaction Reporting Exem
Page 89 and 90: Currency Transaction Reporting Exem
Page 91 and 92: Information Sharing — Overview wi
Page 93 and 94: Information Sharing — Overview ap
Page 95 and 96: Examination Procedures Information
Page 97 and 98: Information Sharing — Examination
Page 99 and 100: Contemporaneous Purchases Purchase
Page 101 and 102: Purchase and Sale of Monetary Instr
Page 103 and 104: Responsibilities of Originator’s
Page 105 and 106: Funds Transfers Recordkeeping — O
Page 107 and 108: Funds Transfers Recordkeeping — O
Page 109 and 110: Foreign Correspondent Account Recor
Page 123 and 124: Private Banking Due Diligence Progr
Page 131 and 132: Special Measures — Overview minim
Page 133 and 134: Examination Procedures Special Meas
Page 135: Foreign Bank and Financial Accounts
Page 139 and 140: Office of Foreign Assets Control
Page 151 and 152: Enterprise-Wide BSA/AML Compliance
Page 159 and 160: Foreign Branches and Offices of U.S
Page 165 and 166: Examination Procedures Parallel Ban
Page 167 and 168: Correspondent Accounts (Domestic)
Page 169 and 170: Correspondent Accounts (Domestic)
Page 171 and 172: large currency transactions. Corres
Page 173 and 174: Correspondent Accounts (Foreign)
Page 175 and 176: Correspondent Accounts (Foreign)
Page 177 and 178: U.S. Dollar Drafts — Overview U.S
Page 179 and 180: U.S. Dollar Drafts — Examination
Page 181 and 182: Payable Through Accounts — Overvi
Page 183 and 184: Payable Through Accounts — Examin
Page 185 and 186: Payable Through Accounts — Examin
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Risk Mitigation Pouch Activities
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Pouch Activities — Examination Pr
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Electronic Banking — Overview lin
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Funds Transfers — Overview Funds
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Funds Transfers — Overview • Di
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Risk Mitigation Funds Transfers —
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Funds Transfers — Examination Pro
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Automated Clearing House Transactio
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Transaction Testing Automated Clear
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Electronic Cash — Overview Using
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Third-Party Payment Processors —
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Third-Party Payment Processors —
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Purchase and Sale of Monetary Instr
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Brokered Deposits — Overview Brok
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Examination Procedures Brokered Dep
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Privately Owned Automated Teller Ma
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Privately Owned Automated Teller Ma
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Privately Owned ATMs — Examinatio
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Nondeposit Investment Products —
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Insurance — Overview Insurance
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• The identification of high-risk
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Insurance — Examination Procedure
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Concentration Accounts — Overview
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Lending Activities — Overview Len
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Examination Procedures Lending Acti
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Trade Finance Activities — Overvi
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Trade Finance Activities — Overvi
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Private Banking — Overview Privat
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Private Banking — Overview allow
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• The current source of funds for
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Examination Procedures Private Bank
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Trust and Asset Management Services
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Nonresident Aliens and Foreign Indi
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Politically Exposed Persons — Ove
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Risk Factors Politically Exposed Pe
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Politically Exposed Persons — Exa
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Embassy and Foreign Consulate Accou
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Embassy and Foreign Consulate Accou
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Non-Bank Financial Institutions —
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Professional Service Providers —
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Professional Service Providers —
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Non-Governmental Organizations and
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Non-Governmental Organizations and
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Business Entities (Domestic and For
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Cash-Intensive Businesses — Overv
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Appendix A: BSA Laws and Regulation
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Appendix B: BSA/AML Directives Appe
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Web Sites Appendix C: BSA/AML Refer
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• Federal Register notices. • E
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Appendix D: Statutory Definition of
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Appendix E: International Organizat
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Appendix F: Money Laundering and Te
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Appendix G: Structuring Appendix G:
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Appendix H: Request Letter Items (C
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Purchase and Sale of Monetary Instr
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Cash-Intensive Businesses Appendix
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Appendix J: Quantity of Risk Matrix
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Appendix J: Quantity of Risk Matrix
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Appendix L: SAR Quality Guidance Ap
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Appendix M: Quantity of Risk Matrix
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Appendix N: Private Banking — Com
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Appendix O: Examiner Tools for Tran
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Appendix P: BSA Record Retention Re
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• Name of purchaser. • Date of
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Appendix P: BSA Record Retention Re
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Acronym or abbreviation Full name A
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Acronym or abbreviation Full name I
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Acronym or abbreviation Full name R
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