Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual

Beneficial Ownership — Overview

• The other financial institution enters into a contract requiring it to certify annually to the bank that it has implemented its AML program, and that it will perform (or its agent will perform) the specified requirements of the bank’s procedures to comply with the requirements of the Beneficial Ownership Rule.

FFIEC BSA/AML Examination Manual

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05/05/2018