Check Cashing Business Solutions | Texas , USA

1. Introduction

1.1 Purpose
1.2 Scope
1.3 Definitions

2. Compliance with Bank Secrecy Act (BSA) Requirements

2.1 Overview of the BSA
2.2 Obligations Under the BSA

3. Services and Systems Overview

3.1 Check Cashing Systems
3.2 Additional Services Offered

4. AML Program Components

4.1 Internal Controls and Procedures
4.2 Designation of a Compliance Officer
4.3 Ongoing Employee Training Program
4.4 Independent Testing of AML Program

5. Customer Identification Program (CIP)

5.1 Customer Identification Procedures
5.2 Verification of Customer Identity
5.3 Types of Identification Documents Accepted
5.4 Risk-Based Approach and Customer Due Diligence (CDD)
5.5 Record-Keeping Requirements

6. Currency Transaction Reports (CTRs)

6.1 Reporting Thresholds
6.2 Filing Procedures
6.3 Record Retention

7. Suspicious Activity Reports (SARs)

7.1 Identifying Suspicious Activities
7.2 Reporting Procedures
7.3 Confidentiality and Safe Harbor Protections

8. Office of Foreign Assets Control (OFAC) Compliance

8.1 Screening Procedures
8.2 Blocking and Rejecting Transactions
8.3 Record-Keeping

9. Record-Keeping Requirements

9.1 Types of Records to be Maintained
9.2 Retention Periods

10. Training and Education

10.1 Employee Training Program
10.2 Documentation of Training

11. Independent Testing and Audit

11.1 Frequency of Testing
11.2 Scope of Testing
11.3 Reporting of Findings

12. Enforcement and Disciplinary Actions

12.1 Enforcement of Policy
12.2 Disciplinary Measures for Non-Compliance

13. Policy Review and Updates

13.1 Periodic Review
13.2 Updates Based on Regulatory Changes

14. Acknowledgment