55% of Bank Secrecy Act / Anti-Money Laundering (BSA/AML) you already have
AML/CTF Act 2006 (Australia) already covers about 55% of Bank Secrecy Act / Anti-Money Laundering (BSA/AML), leaving
20 of 44 controls as genuinely new work.
Already covered 23
Likely covered 1
New work 20
What is genuinely new work
Nothing in AML/CTF Act 2006 (Australia) reaches these. This is the list to scope.
BSA-AML-05Customer Identification Program (CIP)
BSA-AML-12Monetary Instrument Recordkeeping
BSA-AML-17Correspondent Account Due Diligence
BSA-AML-18Private Banking Due Diligence
BSA-AML-19Information Sharing 314(a)
BSA-AML-20Voluntary Information Sharing 314(b)
BSA-AML-22Beneficial Ownership Reporting (Corporate Transparency Act)
BSA-AML-23Section 311 Special Measures
BSA-AML-24AML Programme Effectiveness (AMLA 2020)
BSA-CDD-2Beneficial Ownership Verification
BSA-CTR-2CTR Filing Deadline
BSA-ENF-3Criminal Penalties
BSA-REC-1Funds Transfer Recordkeeping (Travel Rule)
BSA-REC-2Monetary Instrument Purchase Records
BSA-REC-3Foreign Bank Account Reporting (FBAR)
BSA-REC-4Information Sharing (Section 314)
BSA-SAR-1Suspicious Activity Reports - Threshold
BSA-SAR-2SAR Filing Deadline
BSA-SAR-4SAR Recordkeeping
Show the 24 you already have
BSA-AML-01AML Compliance Programme
BSA-AML-02BSA Compliance Officer
BSA-AML-03Independent Testing
BSA-AML-06Customer Due Diligence (CDD)
BSA-AML-07Beneficial Ownership Identification
BSA-AML-08Enhanced Due Diligence (EDD)
BSA-AML-09Suspicious Activity Reporting (SAR)
BSA-AML-10Currency Transaction Reporting (CTR)
BSA-AML-13Funds Transfer Recordkeeping (Travel Rule)
BSA-AML-14OFAC Sanctions Screening
BSA-AML-15Transaction Monitoring
BSA-AML-16AML Risk Assessment
BSA-AML-21Recordkeeping and Retention
BSA-CDD-1Beneficial Ownership Identification
BSA-CDD-3Customer Risk Profiling
BSA-CDD-4Enhanced Due Diligence (EDD)
BSA-CIP-1Customer Identification Program (CIP)
BSA-CIP-2Identity Verification
BSA-CIP-3CIP Recordkeeping
BSA-CTR-1Currency Transaction Reports
BSA-ENF-1Anti-Structuring Prohibition
BSA-ENF-2Civil Money Penalties
BSA-SAR-3SAR Confidentiality
How this is calculated
Already covered means a mapping runs from a control in AML/CTF Act 2006 (Australia) to that control. Likely
covered means no direct mapping exists but both frameworks map to the same control in a third
standard. New work means neither. We keep those separate rather than adding them into one
friendlier number, because blending them would present a two-hop inference as a verified
fact.
Coverage is not symmetric.
Run it the other way and you will get a
different number; both are correct.
From 332,959 cross-framework control
mappings across 723 frameworks, 531 of them verified against
their source documents. It does not tell you that you are compliant: a mapped control means
the two standards ask for the same thing, not that you have done it.
Try another pair ยท
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