Template for Annual Report Card on BSA/AML

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Question:

We are looking to provide the Board of Directors with an annual report card on our BSA/AML program (with information such as how many CTRs; we filed how many SARs; and how many SARs were investigated and not filed etc.) Are there any templates out there for this type of report to give us a starting point?

Answer:

We have not seen a template for this. We recommend starting one with an outline. What does the board need to know, and how much detailed information will you provide to them? Here is one thread discussion on how much SAR filing information some banks do and do not provide.

You may find it useful to read and expand on this peer discussion to create your template.

First published on BankersOnline.com 6/24/13