BSA/AML Examiner School - Case Study Oct 2023

LCB12/15

Internal Controls Checklist 22.5: Cash-Intensive Businesses

Yes No

N/A

Are the institution's policies, procedures, and processes related to cash intensive businesses adequate given the institution's corporate accounts and the risks they present? Based on a review of management information systems (MIS) and internal risk rating factors, does the institution effectively identify and monitor cash intensive businesses? Is the institution's system for monitoring cash-intensive businesses for suspicious activities, and for reporting suspicious activities, adequate given the institution's size, complexity, location, and types of customer relationships?

Y

Y

y

Comments: The Bank provided a list of one Cash-Intensive Businesses.

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