BSA/AML Examiner School - Case Study Oct 2023

LCB 12/15

Internal Controls Checklists Internal Controls Checklist 3.1: BSA Compliance Program General Requirements

Compliance Program

Yes No

N/A

Does the institution have a written Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance policy? 12 CFR 21.21(b); 12 CFR 163.177(b); 12 CFR 208.63(b); 12 CFR 326.8(b); 12 CFR 390.354(b); 12 CFR 748.2(b) Was the compliance program approved by the institution's board of directors, and approval noted in the minutes? 12 CFR 21.21(b); 12 CFR 163.177(b); 12 CFR 208.63(b); 12 CFR 326.(b); 12 CFR 390.354(b); 12 CFR 748.2(b) • A system of internal controls to ensure ongoing compliance? 12 CFR 21.21(c)(1); 12 CFR 163.177(c)(1); 12 CFR 208.63(c)(1); 12 CFR 326.8(c)(1); 12 CFR 390.354(c)(1); 12 CFR 748.2(c)(1) • Independent testing for compliance to be conducted by either institution personnel or an outside party? 12 CFR 21.21(c)(2); 12 CFR 208.63(c)(2); 12 CFR 326.8(c)(2); 12 CFR 390.354(c)(2); 12 CFR 163.177(c)(2); 12 CFR 748.2(c)(2) • Designation of qualified individuals responsible for coordinating and monitoring day-to-day compliance? 12 CFR 21.21(c)(3); 12 CFR 163.177(c)(2); 12 CFR 208.63(c)(3); 12 CFR 326.8(c)(3); 12 CFR 390.354(c)(3); 12 CFR 748.2(c)(3) Does this program include:

Y

**y

y

*y

Y

1 0