Strong Bank Secrecy Act (BSA) programs have 5 pillars: 1. A BSA Officer 2. Strong Training Programs
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Question:
Strong Bank Secrecy Act (BSA) programs have 5 pillars:
1. A BSA Officer
2. Strong Training Programs
3. Internal Control (policies, procedures and risk assessment)
4. Independent Review (Audit)
5. Know Your Customer/Beneficial Ownership
Discuss how each of these pillars is executed is determined by the financial institution.
Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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