Bank secrecy act examination program overview the fdic has prescribed in its regulations section 326 subpart b procedures for monitoring bank secrecy act compliance 12 cfr 3268 a requirement that depository institutions establish and maintain procedures reasonably designed to assure and monitor the compliance with the bsa and the implementing regulations 31 cfr part 103. Bank secrecy act anti money laundering and office of foreign assets control section 81 introduction to the bank secrecy act the financial recordkeeping and reporting of currency and foreign transactions act of 1970 31 usc 5311 et seq is referred to as the bank secrecy act bsa the purpose of the bsa is to require united states us. The 1992 annunzio wylie anti money laundering act strengthened the sanctions for bsa violations and the role of the us treasury two years later congress passed the money laundering suppression act of 1994 mlsa which further addressed the us treasurys role in combating money laundering. Bank secrecy act bsa anti money laundering aml examination manual provides guidance to examiners for carrying out bsa aml and office of foreign assets control ofac examinations an effective bsa aml compliance program requires sound risk management therefore the manual also provides guidance on identifying and controlling
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