Every BSA/AML Program should include seven fundamental components. These include:
- Risk Assessment
- System of Internal Controls
- Independent Testing
- BSA Officer
- Training
- Customer Identification Program (CIP)
- Customer Due Diligence (CDD) Program
Does your BSA/AML program measure up? Join us to find out!
Kevin explains more in the video.
Video Highlights:
- The board of directors is responsible for making sure the program is in place and functioning properly.
- The program needs to evolve and develop over time.
Published
2022/11/17
Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them. Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).
