Introductory BSA/AML Examiner School, Providence, RI

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 Beneficiary’s Name

• Receiving Bank

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