BSA/AML Student Exercises Dec. 2022

LCB 12/15

Internal Controls Checklist 6.1: Suspicious Activity Report

Review of Policies Procedures, and Processes

Yes No

N/A

Answer the following questions based on a review of the institution's policies, procedures, and processes for identifying, researching, and reporting suspicious activity. Do they include the following:  Lines of communication for the referral of unusual activity to appropriate personnel?  Designation of individual(s) responsible for identifying, researching, and reporting suspicious activities?  Procedures to ensure the timely generation of, review of, and response to reports used to identify unusual activities?  Procedures for reviewing and evaluating the transaction activity of subjects included in law enforcement requests (e.g., criminal subpoenas, 314(a) requests, or national security letters (NSLs)) for suspicious activity?  Monitoring systems used to identify unusual activity?

Y

Y

Y

Y

Y

3 0