Bank Secrecy Act Policy Update Details

Product Update Notification

Bank Secrecy Act Policy Template Update Details - 09/27/07

What's Revised

Topic 19 - Retention of Records. All contents were completely revised to mirror guidance from the FFIEC BSA/AML Examination Manual.

BSA Monetary Instrument Log Form Template. The first two paragraphs on page one were changed to mirror the requirements within the related policy. In addition, the instructions on page two were slightly revised for grammatical purposes.

BSA Money Service Business Questionnaire. Additional questions were added which increased the length of the form template to four pages.

What's Deleted

Topic 6 - Certification of CTR. Now included in Topic 5, Currency Transaction Reporting.

Topic 8 - Exemptions. Now included in Topic 6, Currency Transaction Exemptions.

Topic 9 - Certification of Exemption List. Now included in Topic 6, Currency Transaction Exemptions.

Topic 10 - Requests for Information. Deleted to eliminate redundancy elsewhere within the product.

Topic 11 - Suspicious Transactions. Deleted to eliminate redundancy elsewhere within the product.

Topic 13 - Identification for Elderly or Disabled People. Deleted to eliminate any conflict with the Customer Identification Program Policy topic within the product.

Topic 15 - Certification of Monetary Logs. Now included in Topic 7, Monetary Instrument Log Guidelines.

Product Contents

Purpose and Contents - Topic 1

Policy Description, Authority and Scope - Topic 2

Definitions - Topic 3

Risk Management and Assessment - Topic 4

Currency Transaction Reporting - Topic 5

Currency Transaction Exemptions - Topic 6

Currency and Foreign Transaction Reporting - Topic 7

Monetary Instrument Log Guidelines - Topic 8

Funds Transfer System - Topic 9

Suspicious Activity Reporting - Topic 10

Anti-Money Laundering Policy - Topic 11

Know Your Customer Policy - Topic 12

Customer Identification Program Policy - Topic 13

OFAC Policy - Topic 14

Money Services Business Guidelines - Topic 15

Audit Policy - Topic 16

Staff Training - Topic 17

Penalties - Topic 18

Retention of Records - Topic 19

Includes the following form templates:

BSA Checklist for Funds Transfers (1 page)

BSA Checklist for High Risk Accounts (1 page)

BSA CIP Loan Applicant Information (1 page)

BSA Exemption Form (1 page)

BSA Monetary Instrument Log Form Template (2 pages)

BSA Money Services Business Checklist (2 pages)

BSA Money Services Business Questionnaire (4 pages)

BSA SAR Incident Report - 2 pages

Ordering Information

This revised product is available to purchase from Bankpolicies.com for:

$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

If you have ordered this product after 08/27/07 you are eligible to receive the product update 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.

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