In general, the rules require a bank to establish, maintain, and document a program that includes: •  a system of internal controls to ensure ongoing compliance with the BSA,  •  independent testing of the bank’s compliance with the BSA,  •  training of appropriate bank personnel, and  •  the designation of an individual responsible for coordinating and monitoring day-to-day compliance with the BSA.
The Federal Reserve works to ensure that the banking organizations we supervise understand the importance of having in place an effective anti-money laundering program. When a Reserve Bank conducts a BSA/anti-money laundering examination of a banking organization under its supervision, the four components of the program establish the framework for the examination.