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#2216321 - 06/24/19 02:58 PM MSB
Victoria S Offline
Member
Joined: Jul 2015
Posts: 94
Needing assistance: What procedures are required when banking MSBs other than documentation of their registration with FinCen and review the account as you would a high risk account?

Thanks in advance.

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BSA/AML/CIP/OFAC Forum
#2216339 - 06/24/19 05:40 PM Re: MSB Victoria S
Buddy the Elf Offline
Platinum Poster
Buddy the Elf
Joined: May 2002
Posts: 972
first lily pad on the right
The procedures would be whatever your institution developed in order to properly mitigate the risk posed by the MSB as defined in your risk assessment.

For the MSB themselves, they are required to have a BSA/AML Program and all that goes along with it. FinCEN's website has a section devoted to MSBs that includes resources, registration, etc.
_________________________
CAMS

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#2216348 - 06/24/19 08:08 PM Re: MSB Victoria S
P*Q Offline

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P*Q
Joined: May 2001
Posts: 8,450
Somewhere
Check out the MSB section of the exam manual.

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