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Product Update Notification - 06/28/10 Anti-Money Laundering Policy Template Update Details What's New Topic 11 - Rules for Special Accounts, Persons and Other Entities. Includes the following subtopics: Private Banking Accounts Correspondent Accounts - Domestic Correspondent Accounts - Foreign Bulk Shipments of Currency U.S. Dollar Drafts and Payable Through Accounts Pouch Activities Third Party Payment Processors Brokered Accounts Non-Resident Aliens and Foreign Individuals Politically Exposed Persons Embassy and Foreign Consulate Accounts Non-Bank Financial Institutions Money Service Businesses Professional Service Providers Non-Governmental Organizations and Charities Business Entities Cash Intensive Businesses What's Revised Topic 5 - Money Laundering and Terrorist Red Flags. A new subtopic entitled "Bulk Currency Shipments" was added. The following subtopics were revised: · Trade Finance - Bullet point 11 was revised. · Insurance - New bullet point 7 was added. Topic 13 - Audit Policy. Formerly Topic 14, the first paragraph was revised, a new second paragraph was added, and bullet points 1 and 4 were revised. Topic 14 - Staff Training. Formerly Topic 15, the "General" subtopic was completely revised. Topic 15 - Retention of Documentation. Formerly Topic 16 and entitled "Retention of Records", a new subtopic entitled "OFAC Rejected Transactions and Blocked Property" was added and the "Suspicious Activity Report and Supporting Documentation" subtopic was completely revised. What's Deleted Topic 11 - Private Banking Accounts. - Now located within new Topic 11 (Rules for Special Accounts, Persons and Other Entities). Topic 12 - Business Entities. Now located within new Topic 11 (Rules for Special Accounts, Persons and Other Entities). Ordering Information This product is available to purchase from Bankpolicies.com for: $275.00 - List Price - or - $25.00* - Update Price *Applies only to clients who have purchased the Anti-Money Laundering Policy Template within the last three years in addition to the following prior update: Anti-Money Laundering Policy Template Update - 02/22/10 - $25.00 If you have ordered this product after 05/28/10 you are eligible to receive the product update at no charge. Click here to place an order for any of these products. The appropriate Legacy Rewards Volume Discount will be applied to the update or list price for clients who are eligible. NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com. Find Out What's New or Revised with our Product Update Program Our Product Update Program allows existing clients to receive e-mail notifications from us the same day we issue a new or revised product. We encourage you to subscribe today for this free and convenient service. |