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Celebrating Our 1999 - 2010 Product Directory A - Z Policy Packages Job Description Packages Form Packages New/Updated Products Regulatory Hot Topics Discount Programs Client Services Client Tools Company Resources © Copyright 1999 - 2010. All rights reserved. Website Updated 9/6/2010 |
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Bankpolicies.com® |
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Product Update Notification Bank Secrecy Act Policy Template Update 09/12/06 Detail Continued from previous page. Topic 18 - Anti-Money Laundering Policy. Formerly Topic 20, the first paragraph of the "Information Sharing with Federal Agencies" subtopic was revised to include greater detail of the requirements. Topic 19 - Know Your Customer Policy. Formerly Topic 21, no changes. Topic 20 - Customer Identification Program Policy. A paragraph was added to Item 4 (B) under the "Minimum Identity Verification Standards" stating the requirements of filing a W-8 form for a non-U.S. person. The following subtopics were added to provide greater detail: Rules for Politically Exposed Persons Rules for Embassy and Foreign Consulate Accounts Rules for Professional Service Provider Accounts Rules for Non-Governmental Organization and Charity Accounts Rules for Cash Intensive Businesses The subtopics of "Audit Policy" and "Staff Training" now reference the main topics of the policy to eliminate redundancy. Topic 21 - OFAC Policy. At the request of numerous clients we incorporated the complete text of our Office of Foreign Asset Control Policy Template product into this topic which includes the following subtopics: Policy Statement OFAC Background, Enforcement and Penalties Definitions Structure of Accountability Risk Management Screening and Blocking Processes Rejecting Transactions Automated Clearing House Transactions Department Policies and Procedures Audit Policy Staff Training Retention of Documentation Topic 22 - Money Services Business Guidelines. Formerly Topic 24, no changes. Topic 23 - Audit Policy. Formerly Topic 19, this topic was completely revised to mirror regulatory guidance. Topic 24 - Staff Training. Formerly Topic 5, the "General" topic was revised to incorporate additional minimum requirements. A "Board of Directors" subtopic was added to provide specific training requirements for a financial institution's board of directors. Ordering Information This revised product is available to purchase from Bankpolicies.com for: $475.00 - List Price - or - $150.00* - Update Price *Applies only to clients who have purchased our Bank Secrecy Act Policy Template in addition to the following prior updates (if applicable): 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 If you have ordered this product after 08/12/06 you are eligible to receive the updated product 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. 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. |