EXAMINATION PROCEDURES Bulk Shipments of Currency. Objective. Assess the adequacy of the U. S. banks systems to manage the risks associated with receiving and sending bulk shipments of currency, and managements ability to implement effective due diligence, monitoring, and reporting systems. Summary. On December 2, 2014, the Federal Financial Institutions Examination Council (FFIEC) released the revised Bank Secrecy ActAntiMoney Laundering (BSAAML) Examination Manual.
The revised manual reflects the ongoing commitment of the federal and state banking agencies to provide current and consistent guidance on riskbased Bulk Shipments of Currency Automated Clearing House Transactions (ACH) Prepaid Access ThirdParty Payment Processors Nonbank Financial Institutions The BSA EFiling System (Appendix T) The Revised FFIEC BSA Examination Manual January 27, 2015 s 10 to 11: 15 AM.
The expanded sections in this manual provide guidance and discussions on specific lines of business, products, and customers that may present unique challenges and exposures for which banks may need to institute appropriate policies, procedures, and processes.
Foreign correspondent accounts (e. g.bulk shipments of currency, Examination Manual: Backward Table of Contents Forward. APPENDIX H: REQUEST LETTER ITEMS Intermediaries, including referral agents, and foreign and domestic customers that send bulk currency shipments to the bank. Provide a list of all foreign and domestic correspondent bank accounts, including a list of foreign financial The Federal Financial Institutions Examination Council (FFIEC) today released the 2014 Bulk Shipments of Currency Revised to incorporate FinCENs CMIR guidance for Interagency Statement: The 2014 Version of the Bank Secrecy ActAntiMoney Laundering Examination Manual The Federal Financial Institutions Examination Council (FFIEC) today released the 2014.
The revised manual provides current guidance on riskbased policies, procedures, and processes for banking organizations to comply with the BSA and safeguard operations from money Bulk Shipments of Currency Revised to incorporate FinCENs Examination Manual: Backward Table of Contents Forward.
Bulk Shipments of CurrencyOverview. Objective. Assess the adequacy of the U. S. banks systems to manage the risks associated with receiving and sending bulk shipments of currency and managements implementation of effective monitoring and reporting systems. This section of the manual covers the regulatory requirements established by sections 312, 313, and 319(b) such as bulk shipments of currency, pouch activity, U.
S. dollar drafts, and payable through accounts, are included in the expanded sections.