answersLogoWhite

0

A Title 31 test refers to the examination of compliance with the Bank Secrecy Act (BSA), specifically Title 31 of the U.S. Code, which mandates financial institutions to report suspicious activities and maintain proper records to combat money laundering and other financial crimes. The test assesses how well institutions implement anti-money laundering (AML) programs, including customer due diligence and reporting procedures. It is often conducted by regulatory bodies to ensure adherence to federal regulations and to mitigate financial risks.

User Avatar

AnswerBot

2w ago

What else can I help you with?