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

More documents

Recommendations

Info

Why BSA Board Training?• FFIEC BSA/AML Manual:– “While the board of directors may not require thesame degree of training as banking operationspersonnel, they need to understand the importanceof BSA/AML regulatory requirements, theramifications of noncompliance, and the risks posed”to the credit union• Board training must provide for a generalunderstanding of the BSA
Pre-Exam Review• Review of BSA database reporting information– Inconsistencies between credit union records and reportingdatabases• Review of prior exam and management’s responsesto previously identified BSA violations• Review of correspondence between the credit unionand FinCEN or the IRS Detroit Computing Center– Whether management has taken corrective action
Page 1 and 2: BANK SECRECY ACT / ANTI-MONEY LAUND
Page 3 and 4: BSA/AML Acronyms• BSA/AML - Bank
Page 5: BSA/AML Purpose• Purpose:- To hel
Page 9 and 10: COMPLIANCE PROGRAMEvery credit unio
Page 11 and 12: Compliance Program• Made up of th
Page 13 and 14: Risk Assessment
Page 15 and 16: Risk Assessment - Risk Matrix• Pr
Page 17 and 18: Risk Assessment - Members• Who do
Page 19 and 20: INTERNAL CONTROLSWritten policies,
Page 21 and 22: Internal Controls• Board ultimate
Page 23 and 24: Internal Controls - MonitoringMembe
Page 25 and 26: CURRENCY TRANSACTIONREPORTSExaminer
Page 27 and 28: Internal Controls - ReportingCurren
Page 29 and 30: CTR - Entities Ineligible for Exemp
Page 31 and 32: Currency Transaction ReportsExempti
Page 33 and 34: Internal Controls - Reporting SAR
Page 35 and 36: Internal Controls - Reporting SARs
Page 37 and 38: Internal Controls - Reporting SARs
Page 39 and 40: Internal Controls - Recordkeeping
Page 41 and 42: Independent Testing• Should be co
Page 43 and 44: BSA Compliance Officer(s)• Must b
Page 45 and 46: Training• All staff whose duties
Page 47 and 48: CUSTOMER/MEMBERIDENTIFICATION PROGR
Page 49 and 50: INFORMATION SHARINGExaminer will as
Page 51 and 52: Information Sharing - 314(a) Reques
Page 53 and 54: Information Sharing - National Secu
Page 55 and 56: Penalties for BSA Violations• Ind
Page 57 and 58:
OFAC• Requirements are separate a
Page 59 and 60:
OFAC - Prohibited Transactions• P
Page 61 and 62:
OFAC Program (Recommended)• Risk
Page 63:
Resources• MCUL: www.mcul.org (In
show all

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

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?