MSB BSA/AML Self-Assessment Tool
The Bank Secrecy Act and related federal and state law requirements (“BSA/AML”) are a crucial component of money services businesses (“MSB” or “MSBs”) operations. As a first line of defense for financial crimes, MSBs play an important role in minimizing fraud, money laundering, terrorist financing, and other financial crimes. BSA/AML compliance has become increasingly complex, leading state regulators to develop an optional BSA/AML Self-Assessment Tool (“Tool”) to provide risk transparency at all levels of an institution.