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Product Update Notification - 12/15/08 BSA, OFAC and Vendor Management Policy Updates Bankpolicies.com is proud to announce the immediate availability of the following revised products: Bank Secrecy Act Policy Template Office of Foreign Assets Control Policy Template Vendor Management Program Policy Template The update to these products is in response to the FDIC FIL-127-2008 entitled "Guidance on Payment Processor Relationships" dated November 7, 2008. This guidance describes potential risks associated with relationships with entities that process payments for telemarketers and other merchant clients. These types of relationships pose a higher risk and require additional due diligence and close monitoring. This guidance outlines risk management principals for this type of higher risk activity. http://www.fdic.gov/news/news/financial/2008/fil08127.html In addition, the Bank Secrecy Act Policy Template contains an additional revision in response to the FinCEN Press Release dated December 4, 2008 entitled "FinCEN Announces Final Rule on Currency Transaction Reporting Exemptions." The release announces the submission to the Federal Register for publication of FinCEN's final rule that simplifies the current requirements for depository institutions to exempt their eligible customers from currency transaction reporting. The new rules take effect 30 days after publication in the Federal Register. http://www.fincen.gov/news_room/nr/html/20081204.html What's Revised Please visit the following pages of our website to review detailed subject matter regarding revised topics for these products: Bank Secrecy Act Policy Template Update Details Office of Foreign Assets Control Policy Template Update Details Vendor Management Program Policy Template Update Details Ordering Information These revised products are available to purchase from Bankpolicies.com for: Bank Secrecy Act Policy Template $475.00 - List Price - or - $50.00* - 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 - 09/30/08 - $75.00 Bank Secrecy Act Policy Template Update - 09/27/07 - $100.00 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 Office of Foreign Assets Control Policy Template $275.00 - List Price - or - $25.00* - Update Price *Applies only to clients who have purchased the Office of Foreign Assets Control Policy Template within the last three years in addition to the following prior updates (if applicable): Office of Foreign Assets Control Policy Template Update - 09/30/08 - $75.00 Office of Foreign Assets Control Policy Template Update - 09/27/07 - $50.00 Office of Foreign Assets Control Policy Template Update - 09/12/06 - $50.00 Office of Foreign Assets Control Policy Template Update - 02/21/06 - $100.00 Vendor Management Program Policy Template $275.00 - List Price - or - $25.00* - Update Price *Applies only to clients who have purchased the Vendor Management Program Policy Template within the last three years in addition to the following prior updates (if applicable): Vendor Management Program Policy Template Update - 06/20/08 - $50.00 Vendor Management Program Policy Template Update - 08/07/07 - $25.00 Vendor Management Program Policy Template Update - 07/25/06 - $25.00 Vendor Management Program Policy Template Update - 01/18/06 - $75.00 If you have ordered any of these products after 11/15/08 you are eligible to receive that updated product at no charge. Click here to place an order for any of these products. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price of each product (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. |