Banker's Compliance Consulting Blog

Currency Transaction Report Requirements

The Bank Secrecy Act outlines specific reporting obligations for certain transactions made in...

Beneficial Owners of Legal Entity Customers

Financial institutions are …are required to establish and maintain written procedures that are...

Automated BSA/AML Monitoring System Red Flags

Automated monitoring systems are a tool to help institutions identify potentially suspicious...

Updating Customer Risk Profiles

Customer Due Diligence requirements state in §1020.210(a)(2)(v)that an institution must implement...

TRID Applications & Strategic Collection

The TRID requirements found in Regulation Z state that, once a consumer has provided six specific...

Auditing BSA/AML/CFT: Scoping a Review

The FFIEC’s BSA/AML Examination Manual outlines the processes that examiners should take when...

BSA/AML/CFT Program Pillars

An institution’s BSA/AML/CFT program must incorporate several key components or “pillars”.These are...

Understanding the “Why” of Regulation B

The purpose of the Equal Credit Opportunity Act (Regulation B) is just as it sounds…equal credit...

The Importance of BSA/AML/CFT Training

One of the pillars of a BSA Program is training.The FFIEC’s BSA/AML Examination Manual states that …

Suspicious Activity Reports: Board Notification

An institution’s Board of Directors is tasked with providing management an oversight of an...