This document is a risk assessment form for a financial institution that evaluates the quantity of risk across its various banking operations in relation to anti-money laundering compliance. It examines areas like wire transfers, private banking, international banking, politically exposed persons, correspondent banking, and higher-risk products and accounts. For each area, it records the number and dollar amount of transactions and accounts. The form also notes the financial institution's estimated currency transaction and suspicious activity report volumes over the past 12 months was well as any examiner comments on the bank's money laundering risk level and quality of risk management system.
Finance Resource Management in eresource ERP gathers financial data from various functional departments and generates valuable financial reports such as Balance Sheet, Trial balance, General Ledgers, Quarterly Financial Reports, Account Statements, Gross Profit Analysis, Cost Center wise Analysis, Branch wise Profit Analysis, profitability report, Asset and Depreciation Management, Tax Management, ABC Analysis and many more. For details:http://nfra.eresourceerp.com
http://www.eresourceerp.com
HSBC just found out that it’s a bad idea to provide investment advice to Americans and not be registered with the SEC. The British bank has been fined $12.5 million by the U.S. agency for permitting its Swiss private banking unit to manage U.S. accounts for over a decade without the appropriate U.S. registrations.
Brexit Broadcast: What we know so far and where is the momentum headingHiFX
2017 headlines have been dominated by the ongoing Brexit process, and the currency markets have been closely watching the developments. While dealing is now taking place in a calmer and more liquid environment than during the initial shock following the vote, Sterling remains weakened and is sensitive to both positive and negative headlines about the negotiations.
As both sides work to reach a deal on the financial settlement, citizens’ rights and the Irish border before the EU Summit on 14th December, we take a look at what’s happened so far and what could happen next.
Finance Resource Management in eresource ERP gathers financial data from various functional departments and generates valuable financial reports such as Balance Sheet, Trial balance, General Ledgers, Quarterly Financial Reports, Account Statements, Gross Profit Analysis, Cost Center wise Analysis, Branch wise Profit Analysis, profitability report, Asset and Depreciation Management, Tax Management, ABC Analysis and many more. For details:http://nfra.eresourceerp.com
http://www.eresourceerp.com
HSBC just found out that it’s a bad idea to provide investment advice to Americans and not be registered with the SEC. The British bank has been fined $12.5 million by the U.S. agency for permitting its Swiss private banking unit to manage U.S. accounts for over a decade without the appropriate U.S. registrations.
Brexit Broadcast: What we know so far and where is the momentum headingHiFX
2017 headlines have been dominated by the ongoing Brexit process, and the currency markets have been closely watching the developments. While dealing is now taking place in a calmer and more liquid environment than during the initial shock following the vote, Sterling remains weakened and is sensitive to both positive and negative headlines about the negotiations.
As both sides work to reach a deal on the financial settlement, citizens’ rights and the Irish border before the EU Summit on 14th December, we take a look at what’s happened so far and what could happen next.
Polar Air designs and manufactures products for safe operation. However, operators and maintenance persons are responsible for maintaining safety. All safety precautions are included to provide a guideline for minimizing the possibility of accidents and property damage while equipment is in operation. To know about gas driven piston compressor, visit - https://www.eatoncompressor.com/piston-gas-powered
A detailed structural analysis for one of the Eaton Compressors. Explore all the geometric characteristics of a typical compressor including machine surfaces, metric dimensions, tolerance values, etc. All Rights Reserved - Airbase. For more information, visit the website - http://www.eatoncompressor.com/
E-learning has started to replace many traditional teaching methods in various streams and it is widely used in both standard education environments and in many corporate sectors.
Credit cards-nj-understanding-electronic-paymentsJennifer R Glass
In the ever-changing world of electronic payments, it is quite difficult to understand what programs are available, how one can use them and how one knows they're getting the best deal. With this presentation, we hope to clarify the mysterious nature of the payment market so that you can understand what is available for you and your business.
Polar Air designs and manufactures products for safe operation. However, operators and maintenance persons are responsible for maintaining safety. All safety precautions are included to provide a guideline for minimizing the possibility of accidents and property damage while equipment is in operation. To know about gas driven piston compressor, visit - https://www.eatoncompressor.com/piston-gas-powered
A detailed structural analysis for one of the Eaton Compressors. Explore all the geometric characteristics of a typical compressor including machine surfaces, metric dimensions, tolerance values, etc. All Rights Reserved - Airbase. For more information, visit the website - http://www.eatoncompressor.com/
E-learning has started to replace many traditional teaching methods in various streams and it is widely used in both standard education environments and in many corporate sectors.
Credit cards-nj-understanding-electronic-paymentsJennifer R Glass
In the ever-changing world of electronic payments, it is quite difficult to understand what programs are available, how one can use them and how one knows they're getting the best deal. With this presentation, we hope to clarify the mysterious nature of the payment market so that you can understand what is available for you and your business.
Study the international Finance at the macro level. In this slide we will see the Current Account situation of several countries and Vietnam on focus (as of 2008).
In slide 2.2 we will see how to Finance the Current Account deficit.
A42 banks race to defend from further reputational damageFreddie McMahon
The next wave of billion dollar fines is underway
as authorities are coming to the banks, already
armed with evidence of KYC, AML and CFT
systemic failings due to the way international
money transfers flow through correspondent
banks. This growing evidence shows how
money launderers’ businesses are successfully
laundering over a trillion dollars a year by
circumventing the controls of banks across the
world.
1. I-2 RISK ASSESSMENTS FOR FINANCIAL INSTITUTIONS
8/13
BSA/AML QUANTITY OF RISK SUMMARY FORM
BSA/AML Quantity of Risk Summary Form (rev. 6/30/04)
Bank:
Charter Number:
City: State:
and County:
As of Date:
Total Assets (000’s):
EIC Name:
Bank Contact Person and Phone: Supervisory Office:
Higher-risk Areas of the Bank:
Number of retail
transactions
(actual number)
Dollar total of
retail
transactions
(thousands)
Unknown,1
Estimated
or Verified
Wire Transfer Department: (average daily volume)2
Domestic Wires Unknown
Payable Upon Proper ID (PUPID) Activity: Unknown
International Wires (includes wire remittances) Unknown
High Risk Location (sending and receiving) 3
: None Unknown
None Unknown
None Unknown
None Unknown
None Unknown
Other Unknown
Other Unknown
Number of Accounts
(actual number)
Total Dollars of
all Accounts
(thousands)
Unknown,
Estimated
or Verified
Trust Department:
Charitable Trusts and Foundations (Foreign & Domestic) 4
Unknown
Customer Directed (non-discretionary) Accounts Unknown
Custodial Accounts Unknown
Investment Advisory Accounts Unknown
Revocable Trusts Unknown
Foreign Grantor or beneficiaries Unknown
Loans or Closely held corporations Unknown
Private Banking Department:
Domestic Customers only Unknown
International Customers (total) Unknown
Geographic focus: None Unknown
None Unknown
None Unknown
None Unknown
None Unknown
Other Unknown
Other Unknown
International Department:
Geographic focus: None Unknown
None Unknown
None Unknown
Other Unknown
2. Assessing the Risk of Banking Operations I-3
8/13
Politically Exposed Persons (PEPs):5
Geographic focus: None Unknown
None Unknown
None Unknown
None Unknown
None Unknown
Other Unknown
Other Unknown
Correspondent Accounts with Foreign Banks:
Geographic focus: None Unknown
None Unknown
None Unknown
None Unknown
None Unknown
Other Unknown
Other Unknown
Pouch Services6
with Foreign Institutions, Persons and / or Businesses:
Geographic focus: None Unknown
None Unknown
None Unknown
None Unknown
Other Unknown
Other Unknown
Brokerage Department / Operations:
Unknown
Investment Advisory / Management:
Unknown
International Branch Facility: (if yes, locations)
None Unknown
Other Unknown
Other Unknown
Higher-risk Products and Services:
Number of retail
transactions
(actual number)
Dollar total of
retail
transactions
(thousands)
Unknown,
Estimated
or Verified
Issuance of travelers checks, official bank checks, and money orders 7
(Average daily volume)
Unknown
Payable Through Accounts 8
(identify which countries)
None Unknown
None Unknown
None Unknown
None Unknown
Other Unknown
Other Unknown
Special Use or Concentration Accounts 9
(e.g.: intra-day, suspense, etc.)
Unknown
3. I-4 RISK ASSESSMENTS FOR FINANCIAL INSTITUTIONS
8/13
Higher-risk Accounts (Deposit)
Number of Accounts
(actual number)
Outstanding
balance of all
Accounts
(thousands)
Unknown,
Estimated
or Verified
Estimated number and dollar volume of accounts opened through the
Internet, Mails, Wire, or by Phone (Non-branch)
Unknown
Money Service Businesses (MSBs): Unknown
Casas de Cambios / Currency Exchanges (Foreign) Unknown
Currency Exchanges (Domestic) Unknown
Money transmitters (includes incidental to other retail business) Unknown
Check Cashing (includes incidental to other retail business) Unknown
Smart Cards, e-cash (Issuance of electronic products that permit
the rapid movement of currency)
Unknown
Cash-intensive businesses (i.e. Convenience stores, Liquor Stores,
Restaurants, & Truck Stops):
Unknown
Foreign (off-shore) Corporations with transaction accounts (total): Unknown
List Countries of offshore corporations: None Unknown
None Unknown
None Unknown
Other Unknown
Non-resident Alien Accounts: Unknown
List Countries of citizenship for NRAs: None Unknown
None Unknown
Other Unknown
Charitable Organizations (Foreign & Domestic) (see footnote 3): Unknown
Jewelry, Gem, and Precious metal dealers (retail and wholesale)
Unknown
Travel agencies
Unknown
Import / export companies
Unknown
Casinos
Unknown
Stock Brokerage firms (Broker dealers)
Unknown
Other high-risk accounts or products not itemized above10
: Other
Unknown
Other Unknown
CTR/SAR data and Optional Examiner feedback:
Estimated Currency Transaction Report (CTR) and
Suspicious Activity Report (SAR) volumes for the
previous 12 months.
CTR Volume (12 months)
0
SAR Volume (12 months)
0
Bank’s and/or Examiner’s comments regarding the
Compliance and Reputation risk associated with
BSA/AML (High, Medium, or Low). We also
encourage comments on the quality of the bank’s
BSA/AML risk management system.
Unknown quantity of risk
Unknown quality of risk management
Unknown direction
Comments:
Optional: Feedback/ suggestions on ways to improve
this Risk Assessment form, and our analysis of
BSA/AML Compliance and Reputation risk:
Comments: