Try free for 30 days
-
Bank Secrecy Act/Anti-Money Laundering Examination Manual
- April 2020 Update
- Narrated by: Tom Brooks
- Length: 2 hrs and 11 mins
Failed to add items
Add to basket failed.
Add to Wish List failed.
Remove from Wish List failed.
Follow podcast failed
Unfollow podcast failed
Buy Now for $9.99
No valid payment method on file.
We are sorry. We are not allowed to sell this product with the selected payment method
Publisher's Summary
Objective: Develop an understanding of the bank’s money laundering, terrorist financing (ML/TF), and other illicit financial activity risk profile. Based on the bank’s risk profile, develop a risk-focused examination scope, and document the Bank Secrecy Act/anti-money laundering (BSA/AML) examination plan.
Examiners assess the adequacy of the bank’s Bank Secrecy Act/anti-money laundering (BSA/AML) compliance program, relative to its risk profile, and the bank’s compliance with BSA regulatory requirements. The scoping and planning process enables examiners to understand the money laundering, terrorist financing (ML/TF), and other illicit financial activity risk profile of the bank. The scoping and planning process also enables examiners to focus their reviews of risk management practices and compliance with BSA requirements on areas of greatest ML/TF and other illicit financial activity risks. Examiners assess whether the bank has developed and implemented adequate processes to identify, measure, monitor, and control those risks and comply with BSA regulatory requirements.
The scoping and planning process should include determining BSA/AML examination staffing needs, including technical expertise, and identifying the BSA/AML examination and testing procedures to be completed. The federal banking agencies generally allocate more resources to higher-risk areas and fewer resources to lower-risk areas.
Each section in this manual includes an introductory overview and accompanying examination and testing procedures, as applicable, for examiners to follow.