BSA/AML: Identifying Unusual Activity

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As a new employee, you will soon realize that you play a crucial role in your institution’s BSA/AML program regardless of your job title. One of your main responsibilities is to be on the lookout for any unusual activity. There are a variety of ways that your bank’s BSA/AML program may try to obtain information from your customers, so you have a better understanding as to what their normal activity looks like. Once you know more about them, it can also help you determine when something seems amiss.

So, how do banks obtain this information from their customers to help in identify unusual activity?

Kevin explains more in the video.

 

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Published
2022/05/31
Kevin Edwards

Kevin Edwards

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).

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