Introductory BSA/AML Examiner School, Providence, RI

MSB BSA Requirements

Bank Secrecy Act Compliance – there is no activity threshold for money transmitters.

BSA Requirements: • Develop an AML Program • Program must be in writing and risk based.

AML Program At minimum, it should:

• Incorporate Policies, Procedures and Internal Controls. • Designate an individual responsible for compliance. • Provide education and/or training to appropriate personnel. • Provide for an independent review to monitor and maintain an adequate program.