BSA Monitoring

Answered by:

Question:

Can the bank rely on sample reviews of the resolutions provided by the business units on the BSA alerts generated by monitoring tools on their customers, or is it necessary to review 100% of their responses?

Answer:

If you have good policies and procedures, as a double check, sampling may be acceptable. However, this may be determinate on the results of your sampling. If you have a high error rate, a 100% review may be necessary.

First published on BankersOnline.com 6/01/09