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ARTICLE · 01 MARCH 2017

State Financial Regulators Release Anti-Money Laundering Compliance Tool

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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.

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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. 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.

The CSBS press release regarding the BSA/AML Self-Assessment Tool is available at: https://www.csbs.org/news/press-releases/pr2017/Pages/013117.aspx .

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