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Finally, there is a one-stop Enhanced Due Diligence reference
source! This book clearly presents methods for risk assessing
customers and developing policies, procedures and controls for
implementing a sustainable AML enhanced due diligence compliance
program. The book not only addresses risk models, risk categories
and risk elements, but also provides detailed information regarding
specific high risk customer types. "The Desktop Reference" contains
sample EDD reviews and everything you need to develop and maintain
your EDD program, train your staff, and reduce regulatory risk.
This book also teaches how to risk assess different customer types,
how to conduct customer on-boarding EDD, and how to conduct ongoing
EDD reviews. Sample EDD reviews include those for: Cash Intensive
Businesses, Charities and NGOs, Foreign Correspondent Banks, and
Private Banking Customers. Also covered are: MSBs and NBFIs, Senior
Foreign Political Figures, Non Resident Aliens, and generic high
risk customer types.
Finally there is a reference source that brings together all the
available anti-money laundering and Bank Secrecy Act guidance and
best practices for conducting suspicious activity report (SAR)
investigations. This book offers a trove of information that will
make your SAR process more efficient while simultaneously reducing
compliance risk. The authors detail how to conduct suspicious
activity investigations in a step-by-step manner and provide all
the information you'll need to understand and identify a full range
of financial crimes and schemes.
The Bank Secrecy Act (BSA) requires that designated financial
institutions implement and maintain anti-money laundering (AML)
programs. Tribal casinos have been designated as financial
institutions under the BSA since 1996, and the BSA regulations
issued by the Treasury Department in 31 C.F.R. 103.64 prescribe the
minimum standards for those programs. All tribal governments
conducting or sponsoring gaming activities - whether for one night
out of the year or throughout the year, whether in their primary
place of operation or at remote sites - must be aware of the
federal requirements associated with the Bank Secrecy Act. This
workbook will allow the casino compliance officer to conduct and
write a formal risk assessment that can serve as the basis for the
casino's AML program.
Using the FFIEC Examination Manual to conduct an independent review
is like using the owner's manual of a car to judge a driver's
abilities. Wrong tool for the job! The Complete Audit Workbook
ensures that audit professionals and BSA officers have the right
tool to conduct the PATRIOT Act (Section 352) required independent
review. The Workbook breaks down BSA/AML regulatory requirements
into component parts that enable an auditor to judge whether all
the i's and t's of a BSA compliance program are dotted and crossed.
Guidance for each major category of questions (over 50 in all!) is
included. Audit traps, --items seen only in confidential exit
interviews-- are also included. The audience for this book is both
BSA auditors and compliance officers. The latter can utilize the
Workbook to design a comprehensive, sustainable AML program. The
former can use this Workbook to check their firm's BSA program
status and carry out their duty to keep senior management informed.
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