Bank Secrecy Act/Anti-Money Laundering Examination Manual for Money Services Businesses [2008]   [open pdf - 1MB]

"In order to effectively apply resources and ensure compliance with BSA requirements, the manual is structured to allow examiners to tailor the BSA examination scope and procedures to the specific risk profile of the MSB under examination. The manual consists of the following sections: Introduction; Examination Overview and Procedures for Assessing BSA Compliance; Appendices. The overview sections provide narrative guidance and background information on each topic; each overview is followed by examination procedures. The 'Examination Overview and Procedures' sections serve as a platform for the BSA examination. These sections address legal and regulatory requirements of the AML program centered on the effectiveness of the MSB's AML program and the MSB's compliance with the recordkeeping and reporting requirements of the BSA. Not all of the examination procedures will be applicable to every MSB. The specific examination procedures that will need to be performed depend on the BSA/AML risk profile of the MSB, the quality and quantity of independent testing, the MSB's history of BSA compliance, and other relevant factors. Within each section, the manual provides examination procedures for the examiner to follow, varying according to the risk profile identified during the pre-planning of the examination and the current examination findings. The examiner should perform the additional procedures outlined within each section to the extent necessary based on the risks identified."

Public Domain
Retrieved From:
Federal Financial Institutions Examination Council: http://www.ffiec.gov/
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