BSA/AML Examination Manual - ffiec

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Index Service Providers. See Automated Clearing House (ACH) Transactions; Management Information Systems (MIS); Money Services Businesses (MSBs); Nominal and Beneficial Owners; Professional Service Providers; Third-Party Service Provider (TPSP) Shell Bank. See Foreign Correspondent Account Recordkeeping and Due Diligence Shell Company, 290-291, 293-294 defined, 290 red flags, F-1, F-6, F-7 Social Security Number (SSN), 47, 100-101, F-1, O-1, O-2, O-3, P-3, Q-5 Society for Worldwide Interbank Financial Telecommunication (SWIFT). See Electronic Funds Transfers Special Due Diligence Program. See Foreign Correspondent Account Recordkeeping and Due Diligence Special Measures, 4, 10, 22 examination procedures, 131 foreign correspondent account due diligence, 111, 117, 119 guidance — for current information on, 130 overview, 128-130 types of, 128-130 Special Use Accounts. See Concentration Accounts Specially Designated Nationals or Blocked Persons (SDN). See Office of Foreign Assets Control (OFAC) Stored Value Cards, 9, 20, 186, 192, 206, 209, 212, L-1 red flags, F-7 Structuring. See also Money Laundering 3, 8, 9, 10, 63, 175-176, 184, 212, 283, F-2, F-8, J-1, L-1, L-2 defined, G-1, G-2 laws and regulations, A-3 Sub-Accountholder. See Payable Through Accounts (PTAs) Subpoena, 16, 65, 70, 72, 73, 75, 108, 118, 217 laws and regulations, A-4 request letter items, H-4, H-5, H-12, H-13, H-15, H-16, H-17, H-18 Subsidiary, 31, 45, 60, 81, 89, 130, 137, 141, 143, 150, 151, 152, 154-157, 171, 225, 228, 230, 233, A-4, A-5, P-4 Supervisory Response. See Developing Conclusions Suspense Accounts. See Concentration Accounts Suspicious Activity Reporting. See also Confidentiality 3, 6, 13, 15, 16, 24, 29, 30, 31, 32, 33, 35, 37, 39, 52, 56-59, 60-76, 84, 86, 89, 93, 111, 112, 115, 117, 119, 120-122, 125, 135, 144, 152-154, 166, 175, 177, 180, 183, 185, 189-190, 196, 197, 201, 217, 230-231, 243-244, 293, 295, A-4, A-6, C-2, G-1, H-1, H-3, H-4, H-8, H-9, H-12, H-17, K-1, L-1, L-2, P-5, Q-5 account monitoring — automated, 31, 61, 63-64, 67, 73 account monitoring — manual, 62-63, 73 avoid comparing numbers of Suspicious Activity Reports (SARs) filed, 26 continuing activity — SAR filing on, 69-70 FFIEC BSA/AML Examination Manual Index-21 8/24/2007
enterprise-wide, 149-150, 152, 153 examination procedures, 72-76 identifying underlying crime, 64 insurance companies, 230-231, 232 law enforcement inquiries and requests, 65-66 laws and regulations, A-4, A-5, A-6 notifying board of directors of SAR filings, 33, 35, 68 overview, 60-71 prohibition of SAR disclosure, 70-71 record retention, 71, P-5 red flags, F-1 to F-10 request letter items, H-1, H-3, H-4 safe harbor, 61 SAR decision-making process, 66, 73-74, 76 SAR quality, 70, 74, L-1, L-2 sharing SARs, 68-69, 73, 91 systems to identify, research and report suspicious activity, 61-64 timing of a SAR filing, 67-68, 76 tools for transaction testing, O-1, O-2, O-3 Sweep Accounts. See Concentration Accounts Tax Withholding. See also W-8 Status 261 Taxpayer Identification Number (TIN), 49, 52, 53, 79, 100, 101, 103, H-2, H-17, O-1, O-3, P-2, P-4, P-5, Q-3, Q-5 Terrorist Financing, 1, 4-5, 7, 8-9, 10, 20, 32, 56-57, 60, 149, C-3, C-4, E-1, F-1, F-9, F-10 Third Party(ies), 188, 199, 207, 210, 225, 255, 283 bearer shares, 250, 295 correspondent accounts, 165, 173 Customer Identification Program (CIP), 51-54 information sharing, 88 lending, 238 nondeposit investment products (NDIPs), 225 OFAC screening, 143 payment processors, 20, 209-211, H-11 red flags, F-3, F-4, F-5 request letter items, H-2, H-3 Third-Party Payment Processors, 20, 209-210 examination procedures, 211 request letter items, H-11 verification, 209 Third-Party Service Provider (TPSP). See also Automated Clearing House (ACH) Transactions 200-201, Q-5 T Index FFIEC BSA/AML Examination Manual Index-22 8/24/2007
Page 1 and 2:
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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Page 31 and 32:
BSA/AML Risk Assessment — Examina
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BSA/AML Compliance Program — Over
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Page 37 and 38:
Page 39 and 40:
BSA/AML Compliance Program — Exam
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Page 43 and 44:
Page 45 and 46:
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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Page 55 and 56:
Page 57 and 58:
Transaction Testing Customer Identi
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Page 61 and 62:
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 129 and 130:
Page 131 and 132:
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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Page 147 and 148:
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Enterprise-Wide BSA/AML Compliance
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Page 159 and 160:
Corporate management. Enterprise-Wi
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Foreign Branches and Offices of U.S
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Page 165 and 166:
Page 167 and 168:
Examination Procedures Parallel Ban
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Correspondent Accounts (Domestic)
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Page 173 and 174:
Page 175 and 176:
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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Page 309 and 310:
Page 311 and 312:
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 337 and 338:
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Expanded Examination Procedures App
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Parallel Banking _ List any paralle
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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 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: trade finance activities, H-14 trus
Page 405: U United Nations, 7, 137 Updating O
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