BSA, AML, & OFAC Audits

The purpose of our audit will be to test the effectiveness of the Bank’s BSA/AML and OFAC compliance program and verify that the Bank has implemented appropriate BSA/AML program. Our procedures are designed to evaluate the effectiveness of the client’s policies, procedures, processes, and suspicious activity monitoring systems. Our review will include the following areas:
  • Control Environment Assessment.
  • Training Program.
  • CIP and Customer Due Diligence.
  • Suspicious Activity Reporting and Enhanced Due Diligence.
  • Office of Foreign Assets Control systems.
  • Currency Transaction Reporting and Exemption Process.
  • Non-Resident Alien Account Review.
  • Information Sharing 314(a) and 314(b) .
  • Additional Procedures as required by the most current FFIEC BSA/AML Examination Manual and guidance