In the Indian context, technological innovation and investment in IT during the period 2005–06 to 2009–10 has led to efficiency gains for the scheduled commercial banks (Rajput and Gupta, 2011).2 The basic technology adoption by banks in the country is more or less complete. It is now essential for banks to look at improving the efficiency and effectiveness of the IT Infrastructure created.
This means that on a regular examination cycle, examiners seek to determine if a banking organization’s Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance programs are satisfactory and are commensurate with the organization’s business activities and risk profiles.