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:
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 – Advisory on Financial Crimes Targeting COVID-19 Economic Impact Payments
FinCEN – FinCEN Informs Financial Institutions of Efforts Related to Trade in Antiquities and Art
FIN-2021-A001 – Advisory on COVID-19 Health Insurance- and Health Care-Related Fraud
FIN-2020-NTC4 – FinCEN Asks Financial Institutions to Stay Alert to COVID-19 Vaccine-Related Scams and Cyberattacks
FIN-2020-A007 – Advisory on Unemployment Insurance Fraud During the Coronavirus Disease 2019 (COVID-19) Pandemic
FIN-2020-A008 – Supplemental Advisory on Identifying and Reporting Human Trafficking and Related Activity
FIN-2020-A006 – Advisory on Ransomware and the Use of the Financial System to Facilitate Ransom Payments
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
FIN-2020-Alert001 – FinCEN Alerts Financial Institutions to Convertible Virtual Currency Scam Involving Twitter
FIN-2020-A005 – Advisory on Cybercrime and Cyber-Enabled Crime Exploiting the Coronavirus Disease 2019 (COVID-19) Pandemic
FinCEN Guidance Regarding Due Diligence Requirements Under the Bank Secrecy Act for Hemp-Related Business Customers
FIN-2020-A003 – Advisory on Imposter Scams and Money Mule Schemes Related to Coronavirus Disease 2019 (COVID-19)
FIN-2020-A002 – Advisory on Medical Scams Related to the Coronavirus Disease 2019 (COVID-19)
FFIEC Press Release – Federal and State Regulators Release Updates to BSA/AML Examination Manual
Joint Release – Agencies Clarify Requirements for Providing Financial Services to Hemp-Related Businesses
FIN-2019-A006 – Advisory to Financial Institutions on Illicit Financial Schemes and Methods Related to the Trafficking of Fentanyl and Other Synthetic Opioids
Advisory of Illicit Activity Involving Convertible Virtual Currency – FIN-2019-A003
Federal Agencies Issue a Joint Statement on Banks and Credit Unions Sharing Resources to Improve Efficiency and Effectiveness of Bank Secrecy Act Compliance
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 132 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
Want to ensure your purchase from BankPolicies.com remains current? Add a Product Update Protection Plan to your shopping cart to ensure that you will automatically receive an updated version every time it is revised via e-mail within one year from the last date of purchase. This timely and cost-effective solution ensures that you stay on top of federal regulatory changes and industry recommended best practices.
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.
BankPolicies.com provides your financial institution with the best bank policy template products available in the industry. You will always be up to date with the latest changes to bank policies and never have to worry about being out of compliance with the various laws, rules and regulations issued by the Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve, Office of the Comptroller of the Currency (OCC), or other federal regulatory bodies that may apply to your organization.
Our dedicated staff of career banking industry professionals are ready to keep your financial institution up to date with the latest bank policy standards and industry best practices. Purchase your bank policies from us today and rest easy knowing you have the right team helping you and your organization stay compliant. We look forward to earning your business for all of your bank policy needs.