Bank Secrecy Act (BSA) Review

The BSA was designed to help identify the source, volume, and movement of currency and other monetary instruments transported or transmitted into or out of the United States or deposited in financial institutions.  The BSA has been enhanced since its original implementation in 1970, and after passage of the PATRIOT Act in 2001 has been strengthened further.

The regulatory requirements under BSA continue to increase each year and it is imperative that banks have an adequate BSA risk management program.  Our BSA Reviews utilize the Federal Financial Institutions Examination Council (FFIEC) Bank Secrecy Act (BSA) /Anti-Money Laundering (AML) Examination Manual and also incorporate review tactics based on our experience at other banks.  Our reviews are very comprehensive and cover all BSA related areas of the bank.  Our review includes, but not limited to, the following areas:

  • BSA Corporate Governance
  • Anti-Money Laundering Systems
  • Suspicious Activity Reports
  • Currency Transaction Reports (CTR's)
  • Exempt Customers
  • Customer Identification Program / Customer Due Diligence
  • Safe Deposit Boxes
  • OFAC
  • 314(a) Searches
  • Information Sharing Between Financial Institutions – 314(b)
  • Issue/Purchase of Monetary Instruments
  • Wire Transfers
  • Loan Department
  • Training

Why Choose Unicon

We offer an independently managed, objective review, bringing a vast knowledge of regulations and connections to resources.