Question
Strong Bank Secrecy Act (BSA) programs have 5 pillars: 1. A BSA Officer 2. Strong Training Programs 3. Internal Control (policies, procedures and risk assessment)
Strong Bank Secrecy Act (BSA) programs have 5 pillars:
1. A BSA Officer
2. Strong Training Programs
3. Internal Control (policies, procedures and risk assessment)
4. Independent Review (Audit)
5. Know Your Customer/Beneficial Ownership
Discuss how each of these pillars is executed is determined by the financial institution.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Here are the general overview of how these pillars are typically executed based on the size complexity and risk profile of the institution 1 BSA Officer Financial institutions appoint a qualified BSA ...
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Step: 2
Step: 3
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Auditing a risk based approach to conducting a quality audit
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
9th edition
9781133939160, 1133939155, 1133939163, 978-1133939153
