New BSA/AML Self-Assessment Tool
The Conference of State Bank Supervisors (CSBS) issued a voluntary tool to help financial institutions manage Bank Secrecy Act/Anti-Money Laundering (BSA/AML) risk. The tool is designed to help financial institutions self-evaluate for BSA/AML risk and reduce the regulatory burden of BSA/AML requirements. One of the goals in releasing the tool is to promote a more consistent framework for assessing and communicating BSA/AML risk. The tool is not intended to replace any other aspect of a financial institution’s BSA/AML program. The tool comes with instructions and a narrated tutorial.