What's Revised


Topic 2 - Policy Statement.  The first three paragraphs and two bullet points of the "General" subtopic were revised.


Topic 6 - Risk Management and Assessment.  The following subtopics were added:


Enterprise Wide BSA, AML and OFAC Compliance Program

Foreign Branches and Offices of U.S. Banks

Non-Bank Financial Institutions


The following subtopics were revised:


Quantity of Risk Standards

Correspondent Accounts (bullet points 1.-9. and the remaining paragraphs)

Electronic Banking

Funds Transfers (formerly called "Wire Transfers")

Automated Clearing House Transactions (last three paragraphs)

Privately Owned Automated Teller Machines

Trade Finance Activities


Topic 8 - Prohibited Transactions.  Only the name of this topic was revised to mirror the subject description in the FFIEC BSA/AML Examination Manual.


Topic 9 - Automated Clearing House Transactions.  This entire topic was revised.


Table of Contents


Purpose and Contents - Topic 1

Policy Statement - Topic 2

OFAC Background, Enforcement and Penalties - Topic 3

Definitions - Topic 4

Structure of Accountability - Topic 5

Risk Management and Assessment - Topic 6

Screening and Blocking Processes - Topic 7

Rejecting Transactions - Topic 8

Automated Clearing House Transactions - Topic 9

Department Policies and Procedures - Topic 10

Audit Policy - Topic 11

Staff Training - Topic 12

Retention of Documentation - Topic 13


Ordering Information


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


$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 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.


Find Out What's New 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.


How does it work?  Clients who previously purchased the product are offered an "update" via e-mail at a substantial discount off the current list price, whereas clients who have not are provided an opportunity to get it hot off the press!  Additionally, clients who have ordered the product from us within the past 30 days are eligible to receive the update for free!


Do our various discounts apply?  Yes!  All of our discount programs (Standard Volume and Legacy Rewards Program - refer to our Special Offers page) can be applied to your Product Update Program order.


Current subscriber but not receiving notifications from us?  Please ensure your SPAM filter is set to allow an e-mail originating from our service@bankpolicies.com address to successfully arrive in your e-mailbox.

OFAC Policy Template Update Details

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