Lexis Nexis Bank Secrecy Act and Anti-Money Laundering Service
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Product description
The Bank Secrecy Act and Anti-Money Laundering Service provides step-by-step guidance to help you stay in compliance. From guidelines on what you need to do to comply, to checklists that help you maintain good internal controls, this single comprehensive service covers it all in detail. It includes examples of typical money laundering schemes, sample BSA and OFAC policies, and sample training materials.
The manual focuses on what your examiners will really be looking for:
• An effective money laundering detection and deterrence program
• An independent testing system
• A good system of internal controls
You'll get the information you need on e-filing the FinCEN forms, BSA compliance exams, customer due diligence guidelines and procedures, high-risk accounts in international banking, and wire transfer requirements.
Subscribers will receive a downloadable file containing editable forms
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Featured Authors
Dena Somers
Dena Somers is a founding partner of Finreg Partners, a regulatory compliance and risk management firm for the banking, Fintech, and financial services industries. Drawing on more than 20 years of combined in-house and legal/consulting experience in the mortgage, consumer lending, and specialty finance sectors, Ms. Somers helps clients navigate complex regulatory and compliance challenges by providing hands-on expertise in developing and designing enterprise-wide CMS and GRC programs for banks and rapidly evolving companies in highly regulated industries, including Fintech, cannabis banking, money service businesses, and online consumer lending.
As a leading practitioner in her field, Ms. Somers provides compliance training to regional and community banks nationwide and authors numerous publications for LexisNexis in all areas of regulatory compliance for the banking industry. She has served as an expert witness in both federal and state courts and is an experienced public speaker on compliance and emerging trends, having presented before the Virginia legislature, CBS news, and industry trade associations.
Table of contents
Part I: Bank Secrecy Act
Chapter 1 Overview of the Bank Secrecy Act
Chapter 2 Establishing and Managing a BSA Compliance Program
Chapter 2A Customer Identification Procedures
Chapter 3 Recordkeeping Requirements
Chapter 4 Reporting Currency Transactions
Chapter 4A Reporting Suspicious Activity
Chapter 5 Funds Transfer Recordkeeping Requirements
Part II: Anti-Money Laundering
Chapter 6 Overview of Anti-Money Laundering
Chapter 6A Anti-Money Laundering and the USA PATRIOT Act
Chapter 7 Asset Forfeiture
Chapter 8 Developing and Implementing an Effective Customer Due Diligence Program
Chapter 9 Electronic Money Laundering Schemes
Chapter 10 High Risk Accounts in International Banking
Chapter 11 Office of Foreign Assets Control
Part III: Appendices
Appendix A FAQs on 31 CFR Chapter X
Appendix B Treasury — Specially Designated Nationals and Blocked Persons Master List Published by OFAC
Appendix C Sanctions by Country or Targeted Group
Appendix D SAR Activity Review — October 2012
Appendix E Frequently Asked Questions About Complying with the BSA and OFAC
Appendix F U.S. Money Laundering Threat Assessment
Appendix G OFAC Economic Sanctions Enforcement Guidelines
Appendix H FinCEN Special Due Diligence Programs for Certain Foreign Accounts
Appendix I FinCEN Mortgage Loan Fraud Update
