BSA/CIP/OFAC Policy Template Update

BSA/CIP/OFAC Policy Template Update - 09/27/07

Bankpolicies.com is proud to announce the immediate availability of the following revised products:

Customer Identification Program Policy Template

Office of Foreign Asset Control Policy Template

We are also proud to announce the immediate availability of a new stand alone version of our Anti-Money Laundering Policy Template ($275.00).

The revision to these products is in response to the following recently released regulatory guidance:

On July 16, 2007 the Financial Action Task Force (FATF) released "Guidance on the Risk Based Approach to Combating Money Laundering and Terrorist Financing". This guidance supports the development of a common understanding of what the risk based approach involves, outlines the high level principles involved in applying the risk based approach, and indicates good public and private sector practice in the design and implementation of an effective risk based approach.

http://www.fatf-gafi.org/dataoecd/43/46/38960576.pdf

On August 24, 2007 the FFIEC released its 2007 BSA/AML Examination Manual. The revised manual reflects the ongoing commitment of the federal and state banking agencies and the Financial Crimes Enforcement Network (FinCEN) to provide current and consistent guidance on risk based policies, procedures, and processes for banking organizations to comply with the BSA and safeguard operations from money laundering and terrorist financing. The 2007 version further clarifies supervisory expectations since the July 28, 2006, update.

http://www.ffiec.gov/press/pr082407.htm

What's New, Revised and Deleted

Please visit the following pages of our website to review detailed subject matter regarding new, revised or deleted topics for these products:

Bank Secrecy Act Policy Template Update Detail*

Customer Identification Program Policy Template Update Detail

Office of Foreign Asset Control Policy Template Update Detail

*Contains the complete contents of our Anti-Money Laundering Policy Template, Customer Identification Program Policy Template, and Office of Foreign Asset Control Policy Template products.

Ordering Information

These revised products are available to purchase from Bankpolicies.com for:

Bank Secrecy Act Policy Template

$475.00 - List Price

- or -

$100.00* - Update Price

*Applies only to clients who have purchased the Bank Secrecy Act Policy Template within the last three years in addition to the following prior updates (if applicable):

Bank Secrecy Act Policy Template Update - 06/19/07 - $25.00

Bank Secrecy Act Policy Template Update - 11/30/06 - $25.00

Bank Secrecy Act Policy Template Update - 09/12/06 - $150.00

Bank Secrecy Act Policy Template Update - 01/12/06 - $25.00

Bank Secrecy Act Policy Template Update - 09/14/05 - $50.00

Bank Secrecy Act Policy Template Update - 04/26/05 - $50.00

Customer Identification Program Policy Template

$175.00 - List Price

- or -

$25.00* - Update Price

*Applies only to clients who have purchased the Customer Identification Program Policy Template within the last three years in addition to the following prior updates (if applicable):

Customer Identification Program Policy Template Update - 09/12/06 - $25.00

Customer Identification Program Policy Template Update - 09/14/05 - $50.00

Office of Foreign Asset Control Policy Template

$275.00 - List Price

- or -

$50.00* - Update Price

*Applies only to clients who have purchased the Office of Foreign Asset Control Policy Template within the last three years in addition to the following prior updates (if applicable):

Office of Foreign Asset Control Policy Template Update - 09/12/06 - $25.00

Office of Foreign Asset Control Policy Template Update - 02/21/06 - $100.00

If you have ordered any of these products after 08/27/07 you are eligible to receive the updated product(s) at no charge.

Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price (whichever applies).

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.