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Risk Rating Matrix Classification-NAICS Code

Answered by: 
Jim Bedsole

Question: 
Currently, each of our business deposit accounts is coded with an NAICS code as well as a Risk Rating. In reviewing the risk rating matrix classification, Doctors are included in the high risk category. What are your thoughts?
Answer: 

Review the FFIEC BSA/AML Exam Manual - specifically, p. 26 and the section on Professional Service Providers starting on p. 316.

First published on 08/25/2014

Filed under: 
Operations
Security
Filed under operations as: 
Business Accounts/Checks
Risk Assessment/Risk Management
Filed under security as: 
Business Accounts/Checks
Risk Assessment/Risk Management

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