Since the agencies issued the new BSA examination procedures, we have received numerous questions about how institutions should prepare and respond. The best advice from experienced compliance managers and examiners is to use the procedures as a guide for your program. In particular, review the exam letter and use those questions to check your program. Also use the risk tools in the examination procedures as a guide for your internal risk assessment.
Copyright © 2005 Compliance Action. Originally appeared in Compliance Action, Vol. 10, No. 11, 10/05
First published on 10/01/2005