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On January 31, 2017, state financial regulators released a new, voluntary tool designed to help banks and nondepository financial institutions better manage Bank Secrecy Act/Anti-Money Laundering risk.
On January 31, 2017, state financial regulators released a new,
voluntary tool designed to help banks and nondepository financial
institutions better manage Bank Secrecy Act/Anti-Money Laundering
risk. The BSA/AML Self- Assessment Tool was developed by the
Conference of State Bank Supervisors and state regulators and aims
to help institutions better identify, monitor and communicate
BSA/AML risk. In this way, the tool is intended to reduce
uncertainty surrounding BSA/AML compliance and encourage greater
transparency within the financial sector.
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