BSA/AML Examination Manual - ffiec

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ed flags, F-4 request letter items, H-13, H-14 Letter of Credit, 241-244 red flags, F-5 Letters to Credit Unions (LCU), B-1, Q-3 Licenses. See Office of Foreign Assets Control (OFAC) Life Insurance. See Insurance Management Information Systems (MIS) examples of reports, 62 insurance product sales reports, 233, H-13 nonresident aliens (NRAs) and foreign individuals reports, O-3 private banking reports, 251-252 professional service providers reports, 285 systems for detecting unusual activity in high-risk accounts, 188-189, 207 Monetary Instruments Recordkeeping contemporaneous purchases, 96 examination procedures, 98, 213-214 indirect currency purchases, 96 overview, 95-97 purchase and sale of, 3, 8, 9, 20, 63, 84, 185, 212-214, 237, 297, A-2, G-1, G-2 purchaser identification, 95 purchaser verification, 95 recordkeeping and retention requirements, 96-97, P-2, P-3 red flags, F-4, F-8 request letter items, H-5, H-6, H-11, H-12 transportation of — pouch activity, 184-187 Money Laundering. See also Structuring criminal penalties for, 9-10 defined, 8 integration, 8, 196-197, 202, 220 international organizations, E-1 laws and regulations, A-1 to A-6 layering, 8, 171, 196, 202, 212, 220 placement, 8, 196, 212, 220, F-8 red flags, F-1 to F-10 Money Laundering Control Act of 1986, 3 Money Laundering Suppression Act of 1994 (MLSA), 3, 81, Q-3 Money Laundering Threat Assessment (MLTA), 206, 292, C-2, Q-3 Money Services Businesses (MSBs). See also Non-Bank Financial Institutions (NBFI) 5, 21, 156, Q-3 defined, 274 examination procedures, 281 FinCEN registration, 276-278 foreign money service providers, 20 M Index FFIEC BSA/AML Examination Manual Index-13 8/24/2007
guidance on providing banking services to, 276-280 laws and regulations, A-3 minimum due diligence requirements for, 278 state licensing, 276-278 Money Transmitters, 20, 119 request letter items, H-15 Mutual Funds, 5, 274, 291, L-1 N Index National Association of Securities Dealers (NASD), 226, Q-3 National Automated Clearing House Association (NACHA). See also Automated Clearing House (ACH) Transactions; Electronic Funds Transfers; Funds Transfers Recordkeeping 200-201, C-4, F-3, Q-3 National Security Letters (NSLs). See Federal Bureau of Investigation (FBI); Confidentiality Nested Accounts. See Correspondent Accounts (Foreign) Networking Arrangements. See Insurance; Nondeposit Investment Products (NDIPs) Nominal and Beneficial Owners brokered deposits, 215 business entities (domestic and foreign), 291-295 customer due diligence (CDD), 58 defined, 120 OFAC, 140, 146 payable through accounts (PTAs), 181 politically exposed persons (PEPs), 266 private banking, 120-121, 123, 125-127, 249-250 professional service providers, 283 red flags, F-1, F-6, F-8 special measures, 129 trust and asset management services, 254 Nominee Incorporation Services (NIS). See Business Entities Nominee Shareholders, 140, 146, 295 Non-Bank Financial Institutions (NBFI). See also Insurance; Money Services Businesses (MSBs) brokers/dealers, 5, 21, 274 casinos, 5, 21, 122, 274, A-3, D-2, L-1 examination procedures, 281-282 overview, 274-280 Non-Cooperative Countries and Territories (NCCT). See Financial Action Task Force on Money Laundering (FATF) Non-Governmental Organizations (NGOs) charities, 21, 287, 289, F-10, H-18 enhanced due diligence, 288 examination procedures, 289 overview, 287-288 FFIEC BSA/AML Examination Manual Index-14 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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Page 147 and 148:
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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
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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 and 392: Index 314(a) record searches, 88 Cu
Page 393: Index for a BSA/AML compliance prog
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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