Index
ongoing supervision duties, 69, 70, 72, 73, 74, 75 risk-based approach, 59 on-site examinations, 81–111. See also anti-money laundering/ combating the financing of terrorism conducting, requirements and procedures, 187–219 report, contents, 11b, 109–111 scope of, determination of, 84–86 targeted examinations, 84 primary responsibilities, 3 principles required for guidance, 15 prudential examination duties, 84 resources, adequate, 18 risk assessment duties, 3, 25, 26, 27, 35, 36, 38–40 rule-making authority, 17 sanctions duties, 137 sanctioning powers, 17, 18, 120 scope, purpose of guide, xi, xii supervisory regime. See regime under anti-money laundering/ combating the financing of terrorism (AML/CFT) anti-money laundering/combating the financing of terrorism (AML/CFT) administrative sanctions, 17, 18, 53 auditors, external, 18, 19b banks. See banks; specific topics civil money penalties, 126–129, 126b–129b compliance low compliance, xii, 107b risks, 28 sanctions compliance, 117f compliance examinations. See on-site examinations within this heading compliance officers, 97–99, 99b, 198, 199 compliance programs, 37, 38, 92, 97–102 adequacy of, 40 evaluation of, 193, 195–201, 195b, 199b, 201b 264
cooperation AML/CFT regimes, 3, 9, 10 cross-border cooperation, xii, 112n13, 161, 162 domestic cooperation, 150f importance of, 148 international cooperation, 160–165 law enforcement authorities, with, 152, 153b, 154 national cooperation, 149–159 overview, 147 private sector, 3 public sector, 3 FATF 40+9 recommendations, 243–262 foreign bank branches, 86, 87b, 104, 105 internal controls, 100, 100b, 196, 197 international implications of, 5 large cash reporting, 94, 104 low-risk products, 183–186 methodology of guide, xxv, xxvi objectives of guide, xxiv, xxv off-site monitoring information, 90, 91, 91b on-site examinations bank’s risk assessment process analysis and, 35, 36 compliance officer role, duties assessment, 97–99, 99b, 198, 199 compliance programs evaluation, 193, 195–201, 195b, 199b, 201b conducting, requirements and procedures, 187–219 customer due diligence (CDD) evaluation, 206, 207 customer identification program (CIP) evaluation, 202–205, 203b documents required, obtaining, 221–222 expert, generalist examiners, 86 foreign branches, 86, 87b frequency, 82 independent testing adequacy, 12, 197, 198 information requirements, 90–96 internal controls analysis, 196, 197