2023 BSA/AML Examiner School - Series 1

Internal Use Only

Introduction The Anti-Money Laundering Act of 2020 (AML Act) amended subchapter II of chapter 53 of title 31 United States Code (the legislative code commonly referred to as the “Bank Secrecy Act” or “BSA”). The AML Act uses the term “Anti-Money Laundering/ Countering the Financing of Terrorism program”

rather than “BSA/AML compliance program.” The use of “AML/CFT” has the same meaning as the previously used “BSA/AML.”

Internal Use Only

Compliance Program Section

1.Scoping and Planning 2.Risk Assessment 3.Assessing the Compliance Program 4.Developing Conclusions and Finalizing the Exam

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