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BSA Officer Signing off Money Shipments?

Does the BSA officer need to be signing off on money shipments to the bank?

by Ken Golliher:

No, definitely, no. Could he or she be responsible for verifying or signing off shipments? Sure, particularly if it fit in under another responsibility; e.g. cashier.

I don't know what it is about people saying what the BSA Officer can and cannot do. Someone swore to me a couple weeks ago that their auditor said the BSA Officer could not sign official checks. Hogwash.


by Richard Insley:

I agree that daily currency shipping and receiving duties don't automatically belong in the job description of a BSA officer. Nevertheless, from the AML perspective, shifts in the bank's overall currency flow shouldn't be ignored. Increased consumption of large currency coupled with decreased orders of street-size bills, for example, would warrant a closer look. Hopefully, the BSA/AML officer can rely on automated reports and doesn't need to sign GL tickets in order to spot this kind of pattern.

First published on 03/26/2017

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