Updated Technical Assistance Video on BSA/AML Requirements Includes Overview of Current Requirements for Directors
2018 was quite a year for the Bank Secrecy Act (BSA) and anti-money laundering (AML) professionals. With just a few days left in the year, the FDIC just released an updated technical assistance video on the BSA and AML requirements for directors of FDIC-supervised banks and savings associations. This video is part of the FDIC’s Community Banking Initiative and covers the current BSA/AML and OFAC requirements and changes in federal laws and regulations since its original release date in 2013. (Beneficial Ownership, anyone?) Watch the full video below or at this link: https://www.fdic.gov/regulations/resources/director/virtual/bsa.html.
If you’re worried that your institution isn’t compliant with the updated CDD rule and Beneficial Ownership or just need an extra pair of hands to help you get caught up, our Professional Services team is here to help. With our Fifth Pillar Program Evaluation, our team will take a comprehensive look at your current situation, evaluate the position you are in and the effort needed to get you to a 100% compliant state. Additionally, we have experts on staff to help you with BSA exam prep, data integrity reviews, enforcement action resolution and more. If you need consulting services on a unique project, we can handle it. Our staff can even act as a temporary BSA officer if you need it. Contact us today to see how we can help keep your program on the right path to success.