Bank Secrecy Act (BSA)/Anti-Money Laundering (AML)
FORVIS will conduct an independent assessment of a bank’s performance with the recordkeeping, reporting, and anti-money laundering responsibilities established under the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulations, as well as related regulations established by the Office of Foreign Assets Control (OFAC).
The assessment will be risk based and will include the quality of BSA/AML and OFAC risk management across banking operations and departments. This assessment will be designed to test the effectiveness of the bank’s program to:
FORVIS professionals will use procedures similar to those outlined in the FFIEC’s Bank Secrecy Act/Anti-Money Laundering Examination Manual.
Expanded procedures for products, services, persons, and entities as outlined within the FFIEC BSA/AML Examination Manual will be conducted, as applicable to the bank’s compliance program. FORVIS will provide a written statement regarding the adequacy of the overall BSA/AML compliance program. Furthermore, we will assign a significance rating to each recommendation included in the report.