Bank Secrecy Act/Anti-Money Laundering and Office of Foreign Assets Compliance Program
At M&T, our Bank Secrecy Act/Anti-Money Laundering and Office of Foreign Assets (BSA/AML/OFAC) Compliance Program is a top priority – both as a corporate objective and in support of the government's efforts to combat money laundering, terrorist financing and other illegal activities.
Key Elements of our BSA/AML/OFAC Compliance Program include:
- A system of internal controls
- Independent testing of the Compliance Program
- Designation of an individual or individuals responsible for the management of the Compliance Program
- Training for all appropriate personnel
- A Customer Identification Program and Ongoing Customer Due Diligence Program