Objective: Review the bank’s BSA/AML risk assessment process, and determine whether the bank has adequately identified the ML/TF and other illicit financial activity risks within its banking operations.
Examiners must develop an understanding of the bank’s ML/TF and other illicit financial activity risks to evaluate the bank’s BSA/AML compliance program. This is primarily achieved by reviewing the bank’s BSA/AML risk assessment during the scoping and planning process. This section is designed to provide standards for examiners to assess the adequacy of the bank’s BSA/AML risk assessment process.
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