Introductory BSA AML Examiner School Manual Palm Springs 2019

BSA Examination Review

Beneficial Ownership Requirements for Legal Entity Customers Establish and maintain written procedures for each beneficial owner of a legal entity customer opening a new account after May 11, 2018. ● Two prongs: control prong and an ownership prong At a minimum, must obtain: • Name • Date of birth • Address • Identification number.

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BSA Examination Review

• Formulate conclusions • Communicate findings • Prepare report comments • Develop an appropriate supervisory response and • Close the examination

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