Free Checklist Templates for Aml

Aml

OR

AML / BSA Compliance Checklist

Customer Identification & CDD

Collect CIP identifying information

Run electronic identity verification

Collect beneficial owners on entity accounts

Document source of funds and occupation

Screen for PEP status

Apply enhanced due diligence on PEP relationships

Transaction Monitoring

Tune monitoring rules and thresholds

Work the daily alert queue

Investigate structuring patterns under $10,000

Document investigation outcome

Sanctions Screening

Screen all parties against the OFAC SDN list

Screen for PEP and adverse media

Adjudicate potential OFAC matches

Block and report confirmed matches

Customer Risk Rating

Apply the customer risk model

Assign final risk tier

Set the EDD review cadence

Apply enhanced monitoring for high-risk customers

Regulatory Reporting & Recordkeeping

File CTR within 15 days of the reportable transaction

File SAR within 30 days of detection

Conduct annual independent BSA testing

Retain BSA records for five years

Brief the board on BSA program status

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Anti-Money Laundering (AML) Checklist

Customer Identification Program (CIP)

Collect required CIP identifiers

Verify identity through documentary or non-documentary methods

Run OFAC and sanctions screening on all parties

Block account funding pending OFAC resolution

Customer Due Diligence and Risk Rating

Collect beneficial ownership for entity accounts

Document expected source of funds and activity

Assign customer risk rating

Perform Enhanced Due Diligence on high-risk customers

Transaction Monitoring and Investigation

Review automated monitoring alerts daily

Investigate flagged transactions and document rationale

File CTR for currency transactions over $10,000

Convene SAR review committee

File SAR within 30 days of detection

Recordkeeping and Ongoing Review

Refresh CDD information at the risk-based cadence

Verify wire instruction changes via call-back

Retain BSA records for five years

Training and Independent Audit

Deliver annual BSA/AML training to all staff

Test staff comprehension and document completion

Commission independent BSA audit

Track audit findings to remediation

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Anti-Money Laundering Checklist

Customer Due Diligence

Verify identity against CIP requirements

Screen against OFAC SDN and PEP lists

Assign customer risk rating

Apply Enhanced Due Diligence for high-risk customers

Schedule periodic CDD refresh

Transaction Monitoring

Calibrate monitoring rules and thresholds

Review automated alerts from the monitoring system

Investigate flagged transactions

File SAR with FinCEN within 30 days

Employee Training and Awareness

Deliver annual BSA/AML training to producers and staff

Distribute typology and red-flag updates

Test training effectiveness

Recordkeeping and Independent Testing

Retain AML records for five years

Conduct independent AML program audit

Track regulatory updates from FinCEN and state DOIs

Confirm BSA Officer designation and reporting line

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Anti-Money Laundering Compliance Checklist

Firm Risk Assessment

Map practice areas to AML risk tiers

Identify high-risk jurisdictions from the FATF list

Document the risk assessment for partner approval

AML Policies and Controls

Designate the firm's Money Laundering Reporting Officer

Update the firm's AML policy manual

Benchmark policies against ABA Good Practices Guidance

Client Due Diligence

Verify client identity with government-issued ID

Screen the client against OFAC and PEP lists

Identify beneficial owners for entity clients

Run enhanced due diligence on flagged clients

Ongoing Monitoring and SAR Reporting

Review IOLTA deposits for structuring red flags

Decide whether to file a SAR with FinCEN

File the SAR through the BSA E-Filing System

Training and Awareness

Deliver annual AML training to all firm personnel

Provide specialized training for intake and billing staff

Log training attendance and completion certificates

Independent Audit and Review

Engage an independent auditor for the AML program

Review audit findings with the managing partner

Document remediation actions and target dates

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Anti-Money Laundering Compliance Checklist

Firm-Wide Risk Assessment

Map services in BSA and FinCEN scope

Score client and geographic risk

Document the risk assessment workpaper

AML Policies and Internal Controls

Update the written AML compliance program

Designate the BSA/AML compliance officer

Document the SAR detection workflow

KYC and Customer Due Diligence

Collect beneficial ownership per the CDD rule

Screen clients against OFAC SDN and PEP lists

Apply enhanced due diligence to flagged clients

Refresh KYC files for existing clients

Employee Training and Awareness

Deliver annual AML training to client-facing staff

Test staff on red-flag scenarios

Capture training completion records

Recordkeeping and Regulatory Reporting

Retain KYC and transaction records for five years

Confirm whether suspicious activity was detected

File the SAR with FinCEN within 30 days

File CTRs for cash transactions over ten thousand dollars

Independent Testing and Remediation

Engage an independent reviewer for the annual audit

Walk through audit findings with the compliance officer

Track remediation of audit findings to closure

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Know Your Customer (KYC) Checklist

Engagement and Disclosure Delivery

Confirm account type and ownership structure

Deliver Form CRS to the retail client

Deliver Reg S-P privacy notice and Form ADV Part 2

Customer Identification Program (CIP)

Collect legal name, DOB, and residential address

Record the taxpayer identification number

Collect unexpired government photo ID

Authenticate identity via LexisNexis or IDology

Sanctions and PEP Screening

Run OFAC SDN screening on all parties

Screen for PEP status and adverse media

Escalate matches to the BSA officer

Beneficial Ownership and CDD

Identify 25%+ beneficial owners

Identify the control person on the account

Document account purpose and expected activity

Capture source of funds and source of wealth

Risk Rating and EDD

Assign overall customer risk rating

Conduct enhanced due diligence on high-risk customers

Document the Reg BI recommendation rationale

Sign-Off and Ongoing Monitoring

File the CIP and CDD packet in NetDocuments

Configure transaction monitoring thresholds

Schedule the periodic refresh by risk tier

Obtain CCO sign-off on the new account file

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KYC Checklist

Customer Identification (CIP)

Collect government-issued photo ID

Capture customer identifying information

Identify the customer type

Verify identity through CIP vendor

Beneficial Owner Collection (Entity Accounts)

Collect entity formation documents

Collect 25%+ beneficial owner information

Run CIP on each beneficial owner

Address Verification

Collect proof of residential address

Reconcile address against ID and application

Flag high-risk geographies

Economic Profile and Suitability

Capture annual income and net worth

Document source of wealth

Capture risk tolerance and investment experience

Source of Funds Review

Identify the funding source for initial deposit

Collect supporting documentation for funding

Determine if enhanced due diligence applies

Complete enhanced due diligence file

AML/CFT Screening

Run OFAC SDN screening on all parties

Screen for PEP and adverse media

Assign customer risk rating

Set transaction monitoring thresholds

CCO Sign-Off and File Close

Assemble the KYC file for review

Compliance officer reviews and signs off

Schedule periodic KYC refresh

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