BSA/AML Examination Manual - ffiec

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Index examination procedures, 204-205 screening ACH transactions (OFAC), 143, 200, 201, 204, 205 Section 314(a) information requests, 88 red flags, F-3 Trade Finance, 20, M-1 accepting bank, 242 advising bank, 241, 242 applicant, 241, 242 beneficiary or drawer, 241 confirming bank, 241 discounting bank, 242 documentary requirements, 243-245 examination procedures, 246 issuing bank, 141, 241-245 lending, 238 negotiating bank, 242 overview, 241-245 paying bank or drawee, 242 red flags, F-5 reimbursing bank, 242 request letter items, H-14 Treasury Department, See U.S. Department of the Treasury Training, 24, 29, 30, 31, 33 documentation, 33 examination procedures, 34, 36, 38, 41, 42 OFAC, 145 request letter items, H-2, H-6, H-14, H-16 Travel Rule. See Funds Transfers Recordkeeping Trust and Asset Management, 20, 46, J-2 agency accounts, 226, 254, 256 beneficial owners, 256 business entities, 290-295, 297 court-supervised accounts, 254, 255, 257 corporate trusts, 254, 255 examination procedures, 258-259 international business corporations (IBCs), 21, 247, 252, 291-292, 295, H-18, Q-2 nominee incorporation services (NIS), 292, F-2, Q-4 overview, 254-257 personal trusts, 254 private banking, 247 professional service providers, 283, 285 Private Investment Companies (PICs), 21, 226, 227, 247, 249, 250, 252, 256, 257, 259, 291-292, F-1, H-15, Q-4 red flags, F-1, F-8 request list items, H-15, H-16, H-18 FFIEC BSA/AML Examination Manual Index-23 8/24/2007
U United Nations, 7, 137 Updating OFAC Lists. See Office of Foreign Assets Control (OFAC) U.S. Attorney General correspondence from, 16, H-6 subpoenas, 108 U.S.-Based Examinations. See Foreign Branches and Offices U.S. Bureau of Customs and Border Protection, 134 U.S. Department of the Treasury. See also Secretary of the Treasury 1, 3-5, 50-51, 81, 95, 99, 107, 137, 152, 287, A-1 to A-6, C-1, C-3, P-1, P-5, Q-5 request letter items, H-1, H-6 U.S. Dollar Drafts, 20, 106, J-1 overview, 175 examination procedures, 176-177 request letter items, H-8 V Verification, See also Customer Identification Program (CIP) 47-49, 254, 257, 261, 288 additional, 48-49 certifications. See also Foreign Correspondent Account Recordkeeping and Due Diligence, 108 documentary, 48 examination procedures, 52-54 lack of, 49 nondeposit investment products (NDIPs), 227 nondocumentary, 48 OFAC license, validity of, 144-145 purchaser. See also Monetary Instruments Recordkeeping, 95 privately owned automated teller machine (ATM), 221 request letter items, H-2 source of funds, 122 third-party payment processors, 209-210 W-8 Status, See also Tax Withholding 21, 261, 263 request letter items, H-17 Web Currency and Banking Retrieval System (Web CBRS), 11, 13, 25, Q-5 W Index FFIEC BSA/AML Examination Manual Index-24 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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Expanded Examination Procedures App
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Parallel Banking _ List any paralle
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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
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 and 402: trade finance activities, H-14 trus
Page 403: enterprise-wide, 149-150, 152, 153
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