Retain program records for five years

AML Program policy, §8.4

Copies of this policy, every supporting procedure, the officer designation and the bank’s acknowledgment, training records, independent test reports and remediation logs, quality assurance reports, and board compliance reports and minutes are retained for at least five years in a format accessible for sponsor bank review and regulatory examination.

Continuous

Five years from the date of each record

File each program record under the retention schedule with its date, keep superseded versions, and be able to produce any record on request.

• Retention schedule entry

  Record class, retention period, location

• Program document archive

  Every version of the policy and procedures with its dates

AML Compliance Officer

Leela can hold each program record with its date and prove retention when the bank or an examiner asks.

Tell Leela about your company to see whether this applies.