Case Study

BRG Designs Risk-based BSA/AML/OFAC Compliance Program for NY Representative Office of Latin American Bank

January 1, 2018

For the New York representative office of a Latin American bank, BRG experts designed a risk-based BSA/AML/Office of Foreign Assets Control (OFAC) compliance program in preparation for opening its first US branch, pending approval of a banking license by the Board of Governors of the US Federal Reserve System. The branch was expected to offer a range of products and services to US and overseas customers. BRG was subsequently engaged to document a preliminary BSA/AML/OFAC risk assessment for the New York representative office and provide BSA/AML/OFAC training to both the chief representative and compliance officer.

Note that some engagements may have taken place prior to the expert(s) joining BRG.

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