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03/2/2017
Barack Ferrazzano Client Alert

Client Alert: CSBS Releases New BSA/AML Compliance Tool

Action Items

The New CSBS BSA/AML Compliance Tool

The Conference of State Bank Supervisors recently released a BSA/AML Compliance Tool to help banks self-assess their BSA/AML compliance procedures. A link to the announcement can be found here, and a link to the Tool and its instructions can be found here.
The Tool is meant to be flexible to fit each bank’s unique BSA/AML risk profile and the constant evolution of BSA/AML risk. Although the Tool is voluntary, its elements may be incorporated (consistent with other compliance tools developed by the regulators) into future exams and banks should consider preparing for its eventual adoption as best practices.

We Can Help You

We often work with our bank clients to help them with their BSA/AML issues and help them prepare for their regulatory exams. Please contact us if you are interested in discussing how the Tool may affect your current BSA/AML compliance and risk management program, or if you have any questions regarding new developments in the BSA/AML area.

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