BSA Practices? What’s that?

According to the exam manual “written policies, procedures, and processes alone are not sufficient to comply with these other BSA regulatory requirements. Practices that correspond to the bank’s written policies, procedures, and processes are needed for implementation. Importantly, policies, procedures, processes, and practices should align with the bank’s unique money laundering, terrorist financing (ML/TF), and other illicit financial activity risk profile.”

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Alert! Revisions to Three Sections of the BSA FFIEC Exam Manual webinar.