BSA/AML Examination Manual - ffiec

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Independent Sales Organization (ISO), 210, 219-221, 222-223, Q-3 defined, 219 gateway arrangements, 210 request letter items, H-12 Independent Testing, 2, 12-13, 17, 24, 28, 30-32, 34, 41-42, 79, 151, 153, 159 examination procedures, 36-37 frequency of, 30 minimum requirements, 31 money services business (MSB) requirements, 279 OFAC, 140, 145, 147 request letter items, H-1, H-2 transaction testing, 38-39 Individual Retirement Account (IRA), 77, Q-3 Individual Taxpayer Identification Number (ITIN), 79, O-3, Q-3 for customer identification, 47 Informal Value Transfer Systems (IVTS), 9, 195-196, Q-3 hawala, 9, 194 Information Sharing, 4, 31 documentation of searches performed, 89-90 examination procedures — 314(a), 92-93 examination procedures — 314(b), 93-94 laws and regulations, A-3 overview, 87-91 request letter items, H-3, H-4, H-5 restrictions and confidentiality, 88-89 safe harbor — 314(b), 90-91 search requirements, 87-88 voluntary information sharing — 314(b), 90-91 Insurance. See also Non-Bank Financial Institutions (NBFI) 20, 152-153, 274, 291, D-1, L-1 AML compliance program requirements, 230 annuity contract, 230 dual employee arrangement, 225 examination procedures, 233-234 laws and regulations, A-2, A-3 life insurance, 230-231, F-6, H-14 networking arrangements, 230, 233 overview, 230-232 red flags, F-6, F-10 request letter items, H-13, H-14 suspicious activity reporting requirements for insurance companies, 230 Integration. See Money Laundering Interest on Lawyers’ Trust Accounts (IOLTA), 257, 283, 285, Q-3 request letter items, H-18 Internal Controls, 28, 34, 41-43, 54, 71, 92-93, 115, 157-158, 195, 248 examination procedures, 35 Index FFIEC BSA/AML Examination Manual Index-11 8/24/2007
Index for a BSA/AML compliance program, 29-30 for an OFAC compliance program, 142-143, 148 for concentration accounts, 235-236 Internal Revenue Service (IRS), 21, 46-47, 70, 81, 85, 132, 260-261, 278, H-1, Q-3 Criminal Investigation Division, 67 Document Control Number (DCN), 14, Q-1 Enterprise Computing Center — Detroit, 16, 74, 77, 78, 84, H-1 International Association of Insurance Supervisors (IAIS), 231, C-3, Q-2 International Business Corporations (IBCs). See Foreign Business Entities; Confidentiality International Monetary Fund (IMF), E-1, Q-3 International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001, 4 International Narcotics Control Strategy Report (INCSR), 22, C-3, Q-3 International Narcotics Traffickers, 7, 137 International Organization of Securities Commissions (IOSCO), C-3, Q-3 International Transportation of Currency or Monetary Instruments common carrier, 134, 136 examination procedures, 136 laws and regulations, A-2 overview, 134-135 Report of International Transportation of Currency or Monetary Instruments (CMIR), 134, 136, 185, A-2, Q-1 Internet, 53, 57, 188-189, 193, 201, 205, 207, 209, 215, 217, 218, 267, 292-293, C-2, F-3, F-6, J-1, M-1 Internet Banking. See also Electronic Banking 188-189, 292 Internet Broker, 217 Internet Protocol (IP), 188, 207, Q-3 Internet Service Providers, 65 Intraday Accounts. See Concentration Accounts Know Your Customer (KYC). See also Customer Due Diligence (CDD) 149, 156, C-3, Q-3 Layering. See Money Laundering Lead Financial Institution. See also Enterprise-Wide 24, 149-151, 153-154 defined, 149 Lending Activities, 20 examination procedures, 240 lending agreement with an Independent Sales Organization (ISO), 220 lending arrangement, 33, 221, F-6 overview, 238-239 K L FFIEC BSA/AML Examination Manual Index-12 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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Page 133 and 134:
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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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
Page 363 and 364: Appendix O: Examiner Tools for Tran
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
Page 377 and 378: Appendix R: Enforcement Guidance As
Page 379 and 380: Appendix R: Enforcement Guidance ex
Page 381 and 382: Appendix R: Enforcement Guidance FF
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 and 390: Export Administration Act of 1979,
Page 391: Index 314(a) record searches, 88 Cu
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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