BSA Policy – Basic Version
The purpose of this BSA Policy Template – Basic Version is to address measures used by a bank, credit union, or other type of financial institution to comply with the requirements of the Bank Secrecy Act (BSA).
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Structure of Accountability – Topic 3
- Compliance Program and Structure – Topic 4
- Risk Management and Assessment – Topic 5
- Suspicious Activity Reporting – Topic 6
- Currency Transaction Reporting – Topic 7
- Currency Transaction Reporting Exemptions – Topic 8
- Information Sharing – Topic 9
- Monetary Instruments – Topic 10
- Funds Transfers and Recordkeeping Requirements – Topic 11
- Anti-Money Laundering Policy Reference – Topic 12
- Customer Identification Program Policy Reference – Topic 13
- Office of Foreign Assets Control Policy Reference – Topic 14
- Audit Policy – Topic 15
- Staff Training – Topic 16
- Penalties – Topic 17
- Retention of Documentation – Topic 18
Recent updates to this product:
OCC New Release 2022-23 – OCC Issues Final Rule Addressing Authority for Exemptions to Suspicious Activity Report Requirements
FFIEC – Federal and State Regulators Release Updates to the BSA/AML Examination Manual
Joint Release – Interagency Statement on Model Risk Management for Bank Systems Supporting Bank Secrecy Act/Anti-Money laundering Compliance
FFIEC – Revised FFIEC BSA/AML Examination Manual
FinCEN Final Rule: Financial Crimes Enforcement Network; Customer Identification Programs, Anti-Money Laundering Programs, and Beneficial Ownership Requirements for Banks Lacking a Federal Functioning Regulator
FFIEC Press Release – Federal and State Regulators Release Updates to BSA/AML Examination Manual
NOTE: This product is designed to provide the basic elements of the Bank Secrecy Act (BSA) and DOES NOT include detailed anti-money laundering (AML), customer identification (CIP), and OFAC guidance. Please refer to the Bank Secrecy Act Policy Template – Comprehensive Version which incorporates these and other key elements of BSA/AML regulatory guidance.
This Bank Secrecy Act Policy Template – Basic Version (approximately 70 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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When updates are made you will receive detailed information regarding why the product was updated and what has changed within the product in our Product Update Notification e-mail correspondence. This enables you to make an informed decision on whether to make any changes to the policy or procedure you implemented for your financial institution from the revised template.
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