We are pleased to publish this sixth version of Protiviti's Guide to U.S. Anti-Money Laundering Requirements. The guide begins by summarizing the basic principles of money laundering and terrorist financing in The Fundamentals section, and ensuing chapters address specific requirements of the Bank Secrecy Act (BSA, the USA PATRIOT Act and the Office of Foreign Assets Control (OFAC). These are followed by sections that delve into many of the practical considerations of maintaining effective AML/CFT Compliance Programs, such as Risk Assessments, Know Your Customer, and Transaction Monitoring and Investigations, including the selection and use of enabling technology. The next sections of the Guide discuss specific considerations for nonbank financial institutions and nonfinancial businesses, as well as the convergence of AML/CFT with fraud and other regulatory requirements. The final section of the Guide offers some international perspectives and related initiatives.
It is important to note that this Guide is provided for general information only and focuses primarily on federal AML/CFT requirements; it is not intended to be legal analysis or advice, nor does it purport to address, except in a few instances, state or international money laundering requirements that may affect U.S. companies.