Core Examination Procedures for Assessing The BSA/AML Compliance Program

EXAMINATION PROCEDURES

BSA/AML Risk Assessment

Objective. Assess the BSA/AML risk profile of the bank and evaluate the adequacy of the bank’s BSA/AML risk assessment process.

  1. Review the bank’s BSA/AML risk assessment. Determine whether the bank has included all risk areas, including any new products, services, or customers, entities, and geographic locations. Determine whether the bank’s process for periodically reviewing and updating its BSA/AML risk assessment is adequate.
  2. If the bank has not developed a risk assessment, or if the risk assessment is inadequate, the examiner must complete a risk assessment.
  3. Examiners should document and discuss the bank’s BSA/AML risk profile and any identified deficiencies in the bank’s BSA/AML risk assessment process with bank management.

 

< Previous Page
BSA/AML Risk Assessment
Next Page >
BSA/AML Compliance Program