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Bank Secrecy Act
Anti-Money Laundering
Examination Manual

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EXAMINATION PROCEDURES

BSA/AML Risk Assessment

 

Objective. Assess the BSA/AML risk profile of the bank and evaluate the adequacy of the bank’s BSA/AML risk assessment process.

  1. Review the bank’s BSA/AML risk assessment. Determine whether the bank has included all risk areas, including any new products, services, or targeted customers, entities, and geographic locations. Determine whether the bank’s process for periodically reviewing and updating its BSA/AML risk assessment is adequate.
  2. If the bank has not developed a risk assessment, or if the risk assessment is inadequate, the examiner must complete a risk assessment.
  3. Examiners should document and discuss the bank’s BSA/AML risk profile and any identified deficiencies in the bank’s BSA/AML risk assessment process with bank management.

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