Introductory BSA/AML Examiner School, Atlanta, CA

INFORMATION SHARING

Section 314(a) requirements

• Designate a “point of contact”

• Conduct a one-time search of bank records

• Notify FinCEN of matches

• Unsure matches, contact law enforcement

INFORMATION SHARING

• Section 314(a) – Records to be searched ➢ Deposit account records ➢ Loan records ➢ Funds transfer records • Originating Bank

Transmitter’s Name

•

Receiving Bank

Beneficiary’s Name

➢ Safe deposit box records ➢ Sale of monetary instruments (purchaser only) ➢ Trust department records ➢ Securities records (purchases, sales, safekeeping, etc.) ➢ Commodities, options, and derivatives