BSA Risk Assessments
Under the new BSA examination procedures, the institution's assessment of risk structures the examiner's approach. However, the procedures do not specifically require that every institution have a written risk assessment. Smaller institutions may have unwritten risk assessments. However, the BSA Officer in those institutions should be prepared to explain the risk in the program and the risk presented by customers. Otherwise, the examiners are instructed to develop their own risk assessment.
Copyright © 2006 Compliance Action. Originally appeared in Compliance Action, Vol. 10, No. 16, 1/06
Privacy Policy Disclaimer Recommend This Site ! Contact Us
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
|
Print Friendly!
Email This Article!
Discuss NOW!