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)

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.

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