BSA/AML Examination Manual - ffiec

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Index examination procedures, 133 laws and regulations, A-2 overview, 132 report of foreign bank and financial accounts (FBAR), 132, Q-2 request letter items, H-6 Foreign Branches and Offices, 34, 115, 137, 149, 151 examination procedures, 160-161 host jurisdiction-based examinations, 159 overview, 156-159 request letter items, H-5, H-9 scoping examinations, 158 U.S.-based examinations, 158 Foreign Business Entities. See also Offshore Entities 291-293 examination procedures, 296-297 International Business Corporations (IBCs), 21, 247, 252, 291-292, H-18, Q-2 Offshore Financial Centers (OFCs), 22, 291, 293-294, F-7, Q-4 Private Investment Companies (PICs), 21, 226, 227, 247, 252, 256, 257, 291-292, F-1, H- 15, H-16, Q-4 Foreign Consulate Accounts. See Embassy and Foreign Consulate Accounts Foreign Correspondent Account Recordkeeping and Due Diligence. See also Correspondent Accounts (Foreign) 4, 20, 25, 43, 131, 162, 163, 170-172, 173-174, 179, 182, 184, 196, 270, 294, J-1 account closure, 108 applicability dates, 113-114 certifications, 107-108, 115, 118, A-4 enhanced due diligence, 111-112 examination procedures, 115-119 foreign shell bank prohibition, 106-107, 115, A-4, H-5 general due diligence, 109-111 monitoring of, 110-111 overview, 106-114 recordkeeping, 106 red flags, F-6 request letter items, H-5, H-8, H-9 risk assessment of foreign financial institutions, 110 special due diligence program for foreign correspondent accounts, 109, 116, 119 special procedures when due diligence cannot be performed, 113 verification, 108 Foreign Individuals. See Nonresident Aliens (NRAs) and Foreign Individuals Foreign Financial Institutions. See Casas de Cambio; Money Transmitters; Currency Exchanges(ers) Foreign Shell Bank. See Correspondent Accounts (Foreign) Formulating Conclusions. See Developing Conclusions Frequently Asked Questions (FAQs), Q-2 FFIEC BSA/AML Examination Manual Index-9 8/24/2007
Index 314(a) record searches, 88 Customer Identification Procedures (CIP), 51 correspondent banking, C-4 OFAC, 140-141 Funds Transfers Recordkeeping. See also Electronic Funds Transfers (EFT); Automated Clearing House (ACH) Transactions 9, 19, 20, 23, 25, 31, 32, 36, 43, 62, 63, 77, 84, 123, 138-142, 165, 170, 184, 188, 207, 219, 226, 235, 247, 253, 257, 261, 292-295, A-2, E-1, J-2, M-1 examination procedures, 105 overview, 99-104 record retention requirements, P-3, P-4 red flags, F-2, F-3, F-5, F-7, F-8, F-9, F-10 request letter items, H-5, H-10, H-13 responsibilities of beneficiary’s banks, 103 responsibilities of intermediary institutions, 102 responsibilities of originator’s banks, 100-101 Suspicious Activity Report (SAR) quality guidance, L-1, L-2 tools for transaction testing, O-1 travel rule, 99, 101-104 travel rule abbreviations and addresses, 104 travel rule conditional exception expiration, 104 Futures Commission Merchants, 5, 109, D-2 Gateway Arrangements. See Independent Sales Organization (ISO) Geographic Locations. See Risk Assessment Government Lists, 50, 52, 139 no designated list for customer identification purposes, 50 Grand Jury. See Confidentiality Hawala. See Informal Value Transfer Systems (IVTS) Head Office foreign branches, 157, 158, 160, 161, 196 sharing Suspicious Activity Reports (SARs) with, 68-69, 73, 152 High Intensity Drug Trafficking Area (HIDTA), J-2, Q-2 defined, 22 High Intensity Financial Crimes Area (HIFCA), J-2, Q-2 defined, 23 Home Banking Systems, 192 Host Jurisdiction-Based Examinations. See Foreign Branches and Offices Importer, 241-242, 244, 253, F-5, H-15 G H I FFIEC BSA/AML Examination Manual Index-10 8/24/2007
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Bank Secrecy Act / Anti-Money Laund
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Table of Contents EXPANDED EXAMINAT
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INTRODUCTION Introduction This Fede
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Background Introduction In 1970, Co
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Introduction institutions, such as
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Introduction proliferation of weapo
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Introduction Although the motivatio
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Scoping and Planning — Overview C
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Scoping and Planning — Overview T
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Scoping and Planning — Examinatio
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Scoping and Planning — Examinatio
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BSA/AML Risk Assessment — Overvie
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Analysis of Specific Risk Categorie
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BSA/AML Risk Assessment — Examina
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BSA/AML Compliance Program — Over
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BSA/AML Compliance Program — Exam
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Developing Conclusions and Finalizi
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Developing Conclusions and Finalizi
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Customer Identification Program —
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Customer Information Required Custo
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Transaction Testing Customer Identi
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Customer Due Diligence — Overview
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Customer Due Diligence — Examinat
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Suspicious Activity Reporting — O
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Law Enforcement Inquiries and Reque
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Timing of a SAR Filing Suspicious A
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Suspicious Activity Reporting — E
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Suspicious Activity Reporting — E
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Currency Transaction Reporting —
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Currency Transaction Reporting —
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Currency Transaction Reporting Exem
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• Operating a pawn brokerage. Cur
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Currency Transaction Reporting Exem
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Information Sharing — Overview In
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Information Sharing — Overview su
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Information Sharing — Overview es
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Copies of section 314(a) requests.
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Purchase and Sale of Monetary Instr
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Funds Transfers Recordkeeping — O
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Funds Transfers Recordkeeping — O
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Responsibilities of Beneficiary’s
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Funds Transfers Recordkeeping — E
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Foreign Correspondent Account Recor
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Private Banking Due Diligence Progr
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Special Measures — Overview minim
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Examination Procedures Special Meas
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Foreign Bank and Financial Accounts
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International Transportation of Cur
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Office of Foreign Assets Control
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Enterprise-Wide BSA/AML Compliance
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Corporate management. Enterprise-Wi
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Foreign Branches and Offices of U.S
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Examination Procedures Parallel Ban
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Correspondent Accounts (Domestic)
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Correspondent Accounts (Foreign)
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Correspondent Accounts (Foreign)
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U.S. Dollar Drafts — Overview U.S
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U.S. Dollar Drafts — Examination
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Payable Through Accounts — Overvi
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Payable Through Accounts — Examin
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Payable Through Accounts — Examin
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Risk Mitigation Pouch Activities
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Pouch Activities — Examination Pr
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Electronic Banking — Overview lin
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Examination Procedures Electronic B
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Funds Transfers — Overview and on
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Funds Transfers — Overview busine
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Examination Procedures Funds Transf
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Automated Clearing House Transactio
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Transaction Testing Automated Clear
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Electronic Cash — Overview Using
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Third-Party Payment Processors —
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Third-Party Payment Processors —
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Brokered Deposits — Overview Brok
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Examination Procedures Brokered Dep
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Privately Owned Automated Teller Ma
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• Expected account activity, incl
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Privately Owned ATMs — Examinatio
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Nondeposit Investment Products —
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Nondeposit Investment Products —
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− Holdings in excess of the custo
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Insurance — Overview its insuranc
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Examination Procedures Insurance In
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Concentration Accounts — Overview
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Concentration Accounts — Examinat
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Lending Activities — Overview bus
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Trade Finance Activities — Overvi
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Risk Mitigation Trade Finance Activ
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Trade Finance Activities — Overvi
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Private Banking — Overview Privat
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Customer Risk Assessment Private Ba
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Private Banking — Overview determ
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Offshore entities. Cash-intensive b
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Trust and Asset Management Services
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• The type of trust or agency acc
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Transaction Testing Trust and Asset
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Nonresident Aliens and Foreign Indi
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Nonresident Aliens and Foreign Indi
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Politically Exposed Persons — Ove
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Politically Exposed Persons — Ove
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Politically Exposed Persons — Exa
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Embassy and Foreign Consulate Accou
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Embassy and Foreign Consulate Accou
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Non-Bank Financial Institutions —
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Professional Service Providers —
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Professional Service Providers —
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Non-Governmental Organizations and
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Non-Governmental Organizations and
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Business Entities (Domestic and For
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Risk Factors Business Entities (Dom
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Cash-Intensive Businesses — Overv
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Appendix A: BSA Laws and Regulation
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Appendix B: BSA/AML Directives Appe
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Web Sites Appendix C: BSA/AML Refer
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Appendix C: BSA/AML References •
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Appendix D: Statutory Definition of
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Appendix E: International Organizat
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Appendix F: Money Laundering and Te
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Privately Owned Automated Teller Ma
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Funds Transfers Appendix F: Money L
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Appendix G: Structuring However, tw
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Appendix H: Request Letter Items (C
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Page 339 and 340: Expanded Examination Procedures App
Page 341 and 342: Parallel Banking _ List any paralle
Page 343 and 344: Appendix H: Request Letter Items (C
Page 351 and 352: Appendix I: Risk Assessment Link to
Page 353 and 354: Appendix J: Quantity of Risk Matrix
Page 355 and 356: Appendix K: Customer Risk versus Du
Page 357 and 358: When did the suspicious activity ta
Page 359 and 360: Low No history of OFAC actions. No
Page 361 and 362: Appendix O: Examiner Tools for Tran
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Page 365 and 366: Signature Cards Appendix P: BSA Rec
Page 367 and 368: Name and address of the beneficiary
Page 369 and 370: Appendix P: BSA Record Retention Re
Page 371 and 372: Acronym or abbreviation Full name E
Page 373 and 374: Acronym or abbreviation Full name N
Page 375 and 376: Appendix R: Enforcement Guidance Ap
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Page 383 and 384: Backfiling. See Currency Transactio
Page 385 and 386: overview, 165-167 request letter it
Page 387 and 388: money services businesses, 279 nond
Page 389: Export Administration Act of 1979,
Page 393 and 394: Index for a BSA/AML compliance prog
Page 395 and 396: guidance on providing banking servi
Page 397 and 398: 247, 253, H-15 Offshore Financial C
Page 399 and 400: Purchase and Sale of Monetary Instr
Page 401 and 402: trade finance activities, H-14 trus
Page 403 and 404: enterprise-wide, 149-150, 152, 153
Page 405: U United Nations, 7, 137 Updating O
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