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

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OFAC Program (Recommended)– Reporting transactions, blocked accounts and prohibitedtransactions.– Maintaining licensing information.• Independent testing (at least annually)• Responsible individual• Training
Resources• MCUL: www.mcul.org (InfoSight)• NCUA: www.ncua.gov• CUNA: www.cuna.org• NASCUS: www.nascus.org• FinCEN: www.fincen.gov• IRS Detroit Computing Center: (800) 800-2877• FinCEN’s Financial Institutions Terrorist Hotline to reportterrorist activity against the U.S.: 1-866-556-3974• FinCEN’s BSA/AML Examination Manual:www.ffiec.gov/bsa_aml_infobase/pages_manual/manual_online.htm• FBI: www.fbi.gov• OFAC: www.treas.gov/ofac
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BANK SECRECY ACT / ANTI-MONEY LAUND
Page 3 and 4:
BSA/AML Acronyms• BSA/AML - Bank
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BSA/AML Purpose• Purpose:- To hel
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Pre-Exam Review• Review of BSA da
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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: OFAC Program (Recommended)• Risk
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bank secrecy act / anti- money laundering (bsa/aml) compliance

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