Introductory BSA/AML Examiner School, Providence, RI

Bank Exam procedures • Review the financial institution’s most recent BSA/AML Risk Assessment to determine the risks posed by MSBs. • Review the financial institution’s BSA/AML Policies and Procedures, including Customer Identification Program, Customer Due Diligence, and Enhanced Due Diligence. • Review risked-based monitoring program.

Bank Exam Procedures

• Determine if the customer is an MSB. • If it is an MSB: – Is it a principal? – Is it a branch or agent? – Is it an agent for more than one principal? • Go to FinCEN’s website and use the “MSB Registrant Search” web page to verify registration. • Registration must be renewed every two years.