bank secrecy act / anti-money laundering (bsa/aml) compliance

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BSA/AML BACKGROUND AND PURPOSE Made up of many laws:Money Laundering Control Act - 1986Annunzio-Wylie Anti-Money Laundering Act -1991Money Laundering Suppression Act – 1994USA PATRIOT Act – 2001BSA/AML BACKGROUND AND PURPOSE Purpose: To help identify if the source, volume and movementof currency and other monetary instrumentstransported or transmitted into or out of the U.S. ordeposited into financial institutions. To aid in the investigation of money laundering, taxevasion, international terrorism and other criminalactivity.3
Page 4 and 5: WHY BSA BOARD TRAINING? FFIEC BSA/A
Page 6 and 7: COMPLIANCE PROGRAM Directors are re
Page 8 and 9: RISK ASSESSMENT The risk assessment
Page 10 and 11: RISK ASSESSMENT - GEOGRAPHIC LOCATI
Page 12 and 13: INTERNAL CONTROLS - MONITORING Moni
Page 14 and 15: INTERNAL CONTROLS - REPORTINGCURREN
Page 16 and 17: CURRENCY TRANSACTION REPORTSPHASE I
Page 18 and 19: CURRENCY TRANSACTION REPORTSEXEMPTI
Page 20 and 21: INTERNAL CONTROLS - REPORTINGSUSPIC
Page 22 and 23: INTERNAL CONTROLS - REPORTINGSUSPIC
Page 24 and 25: INDEPENDENT TESTING Should be condu
Page 26 and 27: TRAINING All staff whose duties req
Page 28 and 29: INFORMATION SHARINGExaminer will as
Page 30 and 31: INFORMATION SHARING - NATIONAL SECU
Page 32 and 33: OFAC Requirements are separate and
Page 34 and 35: OFAC PROGRAM (RECOMMENDED) Risk ass

bank secrecy act / anti-money laundering (bsa/aml) compliance

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