# Bank Secrecy Act

# Checklist

+----------------------------------------------+------------+----------+
|                                              | Yes        | No       |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 1\. Has the board approved a compliance      | \_\_\_\_   | \_       |
| program addressing all aspects of BSA        | \_\_\_\_\_ | \_\_\_\_ |
| including the credit union's Customer        |            | \_\_\_\_ |
| Identification Program (CIP) that provides   | \_\_\_\_   |          |
| for:                                         | \_\_\_\_\_ | \_       |
|                                              |            | \_\_\_\_ |
| -   A system of internal controls;           | \_\_\_\_   | \_\_\_\_ |
|                                              | \_\_\_\_\_ |          |
| -   Independent testing;                     |            | \_       |
|                                              | \_\_\_\_   | \_\_\_\_ |
| -   An individual responsible for daily      | \_\_\_\_\_ | \_\_\_\_ |
|     compliance; and                          |            |          |
|                                              |            | \_       |
| -   Training for appropriate personnel? NCUA |            | \_\_\_\_ |
|     §748.2(b)                                |            | \_\_\_\_ |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 2\. Has the credit union established a       | \_\_\_\_   | \_       |
| Customer Identification Program (CIP) that   | \_\_\_\_\_ | \_\_\_\_ |
| provides for:                                |            | \_\_\_\_ |
|                                              | \_\_\_\_   |          |
| -   Obtaining basic identifying data for     | \_\_\_\_\_ | \_       |
|     each person opening an account;          |            | \_\_\_\_ |
|                                              | \_\_\_\_   | \_\_\_\_ |
| -   Verification of the identity of any      | \_\_\_\_\_ |          |
|     person opening an account;               |            | \_       |
|                                              | \_\_\_\_   | \_\_\_\_ |
| -   Maintenance of records of the            | \_\_\_\_\_ | \_\_\_\_ |
|     information used to verify the person's  |            |          |
|     identity;                                | \_\_\_\_   | \_       |
|                                              | \_\_\_\_\_ | \_\_\_\_ |
| -   Determination whether the person appears |            | \_\_\_\_ |
|     on any federal government list of        |            |          |
|     suspected terrorists; and                |            | \_       |
|                                              |            | \_\_\_\_ |
| -   Adequate notice that the credit union    |            | \_\_\_\_ |
|     will request information to verify       |            |          |
|     identity? §103.121                       |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
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| 3\. Does the CIP require the following       | \_\_\_\_   | \_       |
| minimum information prior to opening an      | \_\_\_\_\_ | \_\_\_\_ |
| account:                                     |            | \_\_\_\_ |
|                                              | \_\_\_\_   |          |
| a.  Name;                                    | \_\_\_\_\_ | \_       |
|                                              |            | \_\_\_\_ |
| b.  Date of birth, for an individual;        | \_\_\_\_   | \_\_\_\_ |
|                                              | \_\_\_\_\_ |          |
| c.  Address;                                 |            | \_       |
|                                              | \_\_\_\_   | \_\_\_\_ |
| d.  Identification number (taxpayer          | \_\_\_\_\_ | \_\_\_\_ |
|     identification number for U.S. person;   |            |          |
|     for a non-U.S. person a taxpayer         |            | \_       |
|     identification number, passport number   |            | \_\_\_\_ |
|     and country of issuance; alien           |            | \_\_\_\_ |
|     identification card number, or number    |            |          |
|     and country of issuance of any other     |            |          |
|     government-issued document bearing a     |            |          |
|     photo or similar safeguard?              |            |          |
|     §103.121(b)(2)                           |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 4\. Does the credit union maintain the       | \_\_\_\_   | \_       |
| identifying data for 5 years after the       | \_\_\_\_\_ | \_\_\_\_ |
| account is closed?                           |            | \_\_\_\_ |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 5\. Does the credit union maintain a         | \_\_\_\_   | \_       |
| descriptive record of any document used to   | \_\_\_\_\_ | \_\_\_\_ |
| verify identity for 5 years after the        |            | \_\_\_\_ |
| account is opened?                           |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 6\. Does the credit union maintain a record  | \_\_\_\_   | \_       |
| of the resolution of any discrepancies in    | \_\_\_\_\_ | \_\_\_\_ |
| basic identifying data for 5 years?          |            | \_\_\_\_ |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 7\. Does the credit union maintain a         | \_\_\_\_   | \_       |
| descriptive record of any non-documentary    | \_\_\_\_\_ | \_\_\_\_ |
| method used to verify identity for 5 years   |            | \_\_\_\_ |
| after the account is opened?                 |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 8\. Is a Currency Transaction Report (CTR),  | \_\_\_\_   | \_\_     |
| IRS Form 4789, filed within 15 days after a  | \_\_\_\_\_ | \_\_\_\_ |
| transaction in currency over \$10,000 has    |            | \_\_\_\_ |
| occurred unless it is an exempt transaction? |            |          |
| §103.22(b)                                   |            |          |
|                                              |            |          |
| Note: Multiple transactions totaling more    |            |          |
| than \$10,000 during any one business day    |            |          |
| are treated as a single transaction.         |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 9\. To be exempt from CTR filing, did the    | \_\_\_\_   | \_       |
| credit union properly file TD Form 90-22.53  | \_\_\_\_\_ | \_\_\_\_ |
| -- "Designation of Exempt Person?            |            | \_\_\_\_ |
| §103.22(d)(3)(i)                             |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 10\. If a person has been exempted from CTR  | \_\_\_\_   | \_       |
| filing, has the credit union performed an    | \_\_\_\_\_ | \_\_\_\_ |
| annual review of the account and renewed,    |            | \_\_\_\_ |
| biennially, a statement certifying that the  |            |          |
| exempt person's account has been monitored   |            |          |
| for suspicious activity? §103.22(d)(4) and   |            |          |
| (5)                                          |            |          |
|                                              |            |          |
| Note: TD Form 90-22.53 must be filed for the |            |          |
| biennial renewal of the exempt person        |            |          |
| designation. The credit union may, but is    |            |          |
| not required to, use this form to notify     |            |          |
| Treasury that it has revoked a member's      |            |          |
| exempt designation.                          |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 11\. Does the credit union file a Suspicious | \_\_\_\_   | \_\_     |
| Activity Report (SAR) within 30 calendar     | \_\_\_\_\_ | \_\_\_\_ |
| days after discovery of a suspicious         |            | \_\_\_\_ |
| transaction involving \$5,000 or more or for |            |          |
| insider abuse of any amount? NCUA §748 (c)   |            |          |
| and §103.18                                  |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 12\. Is the supporting documentation for a   | \_\_\_\_   | \_       |
| SAR retained by the credit union for 5       | \_\_\_\_\_ | \_\_\_\_ |
| years?                                       |            | \_\_\_\_ |
|                                              |            |          |
| Note: Supporting documentation is not to be  |            |          |
| sent with the SAR, but retained by the       |            |          |
| credit union and made available to FinCEN    |            |          |
| and any appropriate law enforcement agency   |            |          |
| upon request.                                |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 13\. Does the credit union adhere to the     | \_\_\_\_   | \_\_     |
| prohibition regarding the notification to    | \_\_\_\_\_ | \_\_\_\_ |
| any person that is involved in the activity  |            | \_\_\_\_ |
| being reported on a SAR that the activity    |            |          |
| has been reported? §103.18(e)                |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 14\. Is a Report of Foreign Financial        | \_\_\_\_   | \_\_     |
| Accounts indicating a financial interest in  | \_\_\_\_\_ | \_\_\_\_ |
| an account in a foreign country filed        |            | \_\_\_\_ |
| annually on or before June 30? §103.24       |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 15\. Is a record of required information     | \_\_\_\_   | \_       |
| maintained for the issuance or sale by       | \_\_\_\_\_ | \_\_\_\_ |
| currency of credit union checks, cashier's   |            | \_\_\_\_ |
| checks, traveler's checks and money orders   | \_\_\_\_   |          |
| for amounts between \$3,000 and \$10,000     | \_\_\_\_\_ | \_       |
| including:                                   |            | \_\_\_\_ |
|                                              | \_\_\_\_   | \_\_\_\_ |
| a\. Name of purchaser;                       | \_\_\_\_\_ |          |
|                                              |            | \_       |
| b\. Date of purchase;                        | \_\_\_\_   | \_\_\_\_ |
|                                              | \_\_\_\_\_ | \_\_\_\_ |
| c\. Type(s) of instrument(s) purchased;      |            |          |
|                                              | \_\_\_\_   | \_       |
| d\. Serial number(s) of each instrument(s)   | \_\_\_\_\_ | \_\_\_\_ |
| purchased;                                   |            | \_\_\_\_ |
|                                              | \_\_\_\_   |          |
| e\. Amount in dollars of each instrument     | \_\_\_\_\_ | \_       |
| purchased; and                               |            | \_\_\_\_ |
|                                              |            | \_\_\_\_ |
| f\. Method used to verify the identity of    |            |          |
| the purchaser? §103.29(a)                    |            | \_       |
|                                              |            | \_\_\_\_ |
|                                              |            | \_\_\_\_ |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 16\. Is a record retained for each extension | \_\_\_\_   | \_\_     |
| of credit over \$10,000 (except for those    | \_\_\_\_\_ | \_\_\_\_ |
| secured by real estate)? §103.33(a)          |            | \_\_\_\_ |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 17\. Is a record retained of each advice,    | \_\_\_\_   | \_       |
| request, or instruction resulting in a       | \_\_\_\_\_ | \_\_\_\_ |
| transfer of currency or other monetary       |            | \_\_\_\_ |
| instruments, funds, checks, etc. over        |            |          |
| \$10,000 outside the U.S.? §103.33(b)        |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 18\. For funds transfers of \$3,000 or more, | \_\_\_\_   | \_       |
| does the credit union retain a record of the | \_\_\_\_\_ | \_\_\_\_ |
| following information:                       |            | \_\_\_\_ |
|                                              | \_\_\_\_   |          |
| a\. Name and address of originator;          | \_\_\_\_\_ | \_       |
|                                              |            | \_\_\_\_ |
| b\. Amount of the payment order;             | \_\_\_\_   | \_\_\_\_ |
|                                              | \_\_\_\_\_ |          |
| c\. Execution date of the payment order;     |            | \_       |
|                                              | \_\_\_\_   | \_\_\_\_ |
| d\. Payment instructions;                    | \_\_\_\_\_ | \_\_\_\_ |
|                                              |            |          |
| e\. Identity of the beneficiary's bank; and  | \_\_\_\_   | \_       |
|                                              | \_\_\_\_\_ | \_\_\_\_ |
| f\. As many of the following as are received |            | \_\_\_\_ |
| with the order:                              | \_\_\_\_   |          |
|                                              | \_\_\_\_\_ | \_       |
| 1\. Name and address of beneficiary;         |            | \_\_\_\_ |
|                                              | \_\_\_\_   | \_\_\_\_ |
| 2\. Account number of beneficiary; and       | \_\_\_\_\_ |          |
|                                              |            | \_       |
| 3\. Any other specific identifier of the     | \_\_\_\_   | \_\_\_\_ |
| beneficiary? §103.33(e)                      | \_\_\_\_\_ | \_\_\_\_ |
|                                              |            |          |
|                                              |            | \_       |
|                                              |            | \_\_\_\_ |
|                                              |            | \_\_\_\_ |
|                                              |            |          |
|                                              |            | \_       |
|                                              |            | \_\_\_\_ |
|                                              |            | \_\_\_\_ |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 19\. Does the credit union retain, for a     |            |          |
| period of 5 years either the original or a   |            |          |
| microfilm or other copy or reproduction of   |            |          |
| each of the following:                       |            |          |
+----------------------------------------------+------------+----------+
| a\. Each document granting signature         | \_\_\_\_   | \_\_     |
| authority over each deposit or share         | \_\_\_\_\_ | \_\_\_\_ |
| account? §103.34(b)(1)                       |            | \_\_\_\_ |
+----------------------------------------------+------------+----------+
| b\. Each statement, ledger card or other     | \_\_\_\_   | \_\_     |
| record on each deposit or share account,     | \_\_\_\_\_ | \_\_\_\_ |
| showing each transaction in, or with respect |            | \_\_\_\_ |
| to, that account? §103.34(b)(2)              |            |          |
+----------------------------------------------+------------+----------+
| c\. Each check, draft, or money order drawn  | \_\_\_\_   | \_\_     |
| on the credit union issued and payable by    | \_\_\_\_\_ | \_\_\_\_ |
| it, except those drawn for \$100 or less?    |            | \_\_\_\_ |
| §103.34(b)(3)                                |            |          |
+----------------------------------------------+------------+----------+
| d\. Each item in excess of \$100 comprising  | \_\_\_\_   | \_\_     |
| a debit to a member's deposit or share       | \_\_\_\_\_ | \_\_\_\_ |
| account? § 103.34(b)(4)                      |            | \_\_\_\_ |
+----------------------------------------------+------------+----------+
| e\. Each item, including checks, drafts, or  | \_\_\_\_   | \_\_     |
| transfers of credit, in excess of \$10,000   | \_\_\_\_\_ | \_\_\_\_ |
| remitted or transferred to a person,         |            | \_\_\_\_ |
| account, or place outside the U.S.?          |            |          |
| §103.34(b)(5)                                |            |          |
+----------------------------------------------+------------+----------+
| f\. A record (letter of transmittal, cash    | \_\_\_\_   | \_       |
| letter, or application for a draft or        | \_\_\_\_\_ | \_\_\_\_ |
| transfer, etc.) of each remittance or        |            | \_\_\_\_ |
| transfer of funds, or of currency, other     |            |          |
| monetary instruments, checks, investments    |            |          |
| securities, or credit, in excess of \$10,000 |            |          |
| to a person, account or place outside the    |            |          |
| U.S.? §103.34(b)(6)                          |            |          |
+----------------------------------------------+------------+----------+
| g\. Each check or draft over \$10,000 drawn  | \_\_\_\_   | \_       |
| on or issued by a foreign bank which the     | \_\_\_\_\_ | \_\_\_\_ |
| credit union has paid? §103.34(b)(7)         |            | \_\_\_\_ |
+----------------------------------------------+------------+----------+
| h\. Each item over \$10,000 received         | \_\_\_\_   | \_       |
| directly from a bank, broker or dealer in    | \_\_\_\_\_ | \_\_\_\_ |
| foreign exchange outside the U.S.?           |            | \_\_\_\_ |
| §103.34(b)(8)                                |            |          |
+----------------------------------------------+------------+----------+
| i\. A record of each receipt of currency,    | \_\_\_\_   | \_       |
| other monetary instruments, investment       | \_\_\_\_\_ | \_\_\_\_ |
| securities or checks over \$10,000 from a    |            | \_\_\_\_ |
| bank, broker or dealer in foreign exchange   |            |          |
| outside the U.S.? §103.34(b)(9)              |            |          |
+----------------------------------------------+------------+----------+
| j\. With respect to demand deposits, records | \_\_\_\_   | \_       |
| needed to reconstruct a transaction account  | \_\_\_\_\_ | \_\_\_\_ |
| and to trace a check in excess of \$100?     |            | \_\_\_\_ |
| §103.34(b)(10)                               |            |          |
+----------------------------------------------+------------+----------+
| k\. A record with the name, address, and     | \_\_\_\_   | \_       |
| taxpayer identification number of the        | \_\_\_\_\_ | \_\_\_\_ |
| purchases of each certificate of deposit, as |            | \_\_\_\_ |
| well as a description of the instrument, a   |            |          |
| note of the method of payment, and the date  |            |          |
| of the transaction? §103.34(b)(11)           |            |          |
+----------------------------------------------+------------+----------+
| l\. A record with the name, address, and     | \_\_\_\_   | \_       |
| taxpayer identification number of any person | \_\_\_\_\_ | \_\_\_\_ |
| presenting a certification of deposit for    |            | \_\_\_\_ |
| payment, as well as a description of the     |            |          |
| instrument and the date of the transaction?  |            |          |
| §103.34(b)(12)                               |            |          |
+----------------------------------------------+------------+----------+
| m\. Each deposit slip showing a transaction  | \_\_\_\_   | \_       |
| more than \$100 and showing the currency     | \_\_\_\_\_ | \_\_\_\_ |
| involved? §103.34(b)(13)                     |            | \_\_\_\_ |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 20\. Has the credit union designated a       | \_\_\_\_   | \_       |
| point-of-contact to receive information      | \_\_\_\_\_ | \_\_\_\_ |
| requests from FinCEN regarding               |            | \_\_\_\_ |
| investigations of terrorist activity or      |            |          |
| money laundering? §103.100(b)(2)(iii)        |            |          |
|                                              |            |          |
| Notes: The point-of-contact information is   |            |          |
| collected on the quarterly call report.      |            |          |
|                                              |            |          |
| These requests are generally referred to as  |            |          |
| "Section 314(a) requests."                   |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 21\. Does the credit union begin its search  | \_\_\_\_   | \_       |
| for the information request (Section 314(a)  | \_\_\_\_\_ | \_\_\_\_ |
| request) promptly and complete it within two |            | \_\_\_\_ |
| weeks, reporting any matches to FinCEN       |            |          |
| immediately? §103.100(b)(2)(ii)              |            |          |
+----------------------------------------------+------------+----------+
|                                              |            |          |
+----------------------------------------------+------------+----------+
| 22\. If the credit union wishes to share     | \_\_\_\_   | \_       |
| information with any other financial         | \_\_\_\_\_ | \_\_\_\_ |
| institution for purposes of identifying and  |            | \_\_\_\_ |
| reporting activities involving suspected     |            |          |
| terrorist activity or money laundering, has  |            |          |
| it submitted a certification to FinCEN and   |            |          |
| resubmitted the certification each year for  |            |          |
| which it plans to share information?         |            |          |
| §103.110(b)(2)                               |            |          |
|                                              |            |          |
| Note: Certifications may be submitted by     |            |          |
| accessing FinCEN's web site at:              |            |          |
| [www.fincen.gov](http://www.fincen.gov/) and |            |          |
| clicking on "Section 314(b) Notif."          |            |          |
+----------------------------------------------+------------+----------+
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+----------------------------------------------+------------+----------+
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+----------------------------------------------+------------+----------+
| Comments                                     |            |          |
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+----------------------------------------------+------------+----------+