The Bank Secrecy Act and anti-money laundering examination manual / Anne Leuter, editor.

Format:

Book

Contributor:

Leuter, Anne, editor.

Series:

Financial institutions and services.

Financial Institutions and Services

Language:

English

Subjects (All):

United States. Bank Secrecy Act.

United States.

Banks and banking--Records and correspondence--Law and legislation--United States.

Banks and banking.

Confidential communications--Banking--United States.

Confidential communications.

Money laundering--United States.

Money laundering.

Physical Description:

1 online resource (300 p.)

Place of Publication:

New York : Nova Science Publishers, Inc., 2010.

Summary:

Provides an overview of The Bank Secrecy Act (BSA) and the Anti-Money Laundering Manual (AML) which is intended to safeguard the US financial system and the financial institutions that make up that system from the abuses of financial crime, including money laundering, terrorist financing, and other illicit financial transactions.

Contents:

THE BANK SECRECY ACT AND ANTI-MONEY LAUNDERING EXAMINATION MANUAL ; THE BANK SECRECY ACT AND ANTI-MONEY LAUNDERING EXAMINATION MANUAL ; CONTENTS ; PREFACE ; Chapter 1 INTRODUCTION ; Structure of Manual; Background; Role of Government Agencies in the BSA; U.S. Treasury; FinCEN; Federal Banking Agencies; OFAC; Money Laundering and Terrorist Financing; Money Laundering; Placement; Layering; Integration; Terrorist Financing; Criminal Penalties for Money Laundering, Terrorist Financing, and Violations of the BSA; Civil Penalties for Violations of the BSA; End Notes

Chapter 2 CORE EXAMINATION OVERVIEW AND PROCEDURES FOR ASSESSING THE BSA/AML COMPLIANCE PROGRAM scoping and Planning - Overview; Review of the Bank's BSA/AML Risk Assessment; Independent Testing; Examination Plan; Transaction Testing; Information Available from BSA-Reporting Databases; Examination Procedures; Scoping and Planning; BSA/AML Risk Assessment - Overview; Evaluating the Bank's BSA/AML Risk Assessment; Identification of Specific Risk Categories; Products and Services; Customers and Entities; Geographic Locations; Analysis of Specific Risk Categories

Developing the Bank's BSA/AML Compliance Program Based Upon its Risk AssessmentEnterprise-Wide BSA/AML Risk Assessment; Bank's Updating of the Risk Assessment; Examiner Development of a BSA/AML Risk Assessment; Examiner Determination of the Bank's BSA/AML Aggregate Risk Profile; Examination Procedures; BSA/AML Risk Assessment; BSA/AML Compliance Program - Overview; Internal Controls; Independent Testing; BSA Compliance Officer; Training; Examination Procedures; BSA/AML Compliance Program; Risk Assessment Link to the BSA/AML Compliance Program; Internal Controls; Independent Testing

BSA Compliance OfficerTraining; Transaction Testing; Independent Testing; Preliminary Evaluation; Developing Conclusions and Finalizing the Examination - Overview; Examination Procedures; Developing Conclusions and Finalizing the Examination; Formulating Conclusions; Preparing the BSA/AML Comments for the Report of Examination; Preparing an Appropriate Supervisory Response; End Notes; Chapter 3 CORE EXAMINATION OVERVIEW AND PROCEDURES FOR REGULATORY REQUIREMENTS AND RELATED TOPICS ; Customer Identification Program - Overview; Customer Information Required; Customer Verification

Verification through DocumentsVerification through Nondocumentary Methods; Additional Verification for Certain Customers; Lack of Verification; Recordkeeping Requirements and Retention; Comparison with Government Lists; Adequate Customer Notice; Reliance on Another Financial Institution; Use of Third Parties; Other Legal Requirements; Examination Procedures; Customer Identification Program; Transaction Testing; Customer Due Diligence - Overview; Customer Due Diligence Guidance; Customer Risk; Enhanced Due Diligence for High-Risk Customers; Examination Procedures; Customer Due Diligence

Transaction Testing

Notes:

Includes index.

Description based on print version record.

ISBN:

1-61728-227-8