How to assess and deal with BSA/AML risks
Abstract: Over the past few years, many people have turned to electronic banking (e-banking). While e-banking may be convenient, it also may increase the possibility of hidden criminal behavior. This article points out that compliance with Bank Secrecy Act/Anti-Money Laundering (BSA/AML) laws and regulations is increasingly scrutinized by banking regulators. It notes that this puts banks in the middle of a potentially difficult — even dangerous — situation, unless they develop strategies to both assess and handle any related risks.