BSA/AML, OFAC and Related Topics – What Do Bank Boards of Directors Need to Know?

Representatives of Deloitte, an AABD Sponsor, speak out in a series of valuable video interviews.

What are the origins of the BSA/AML compliance programs at banks and what are the components of a BSA program?

What is OFAC and what does it mean for banks?

What is the role of a bank board of directors in a BSA/AML program?

What is a BSA/AML risk assessment and what is it designed to do?

What are the suspicious activity reporting (SAR) requirements and how to banks identify suspicious activity?

What are the “Know Your Customer” objectives, requirements, and practices?

What reports should the board of directors be receiving and from whom?