The Bank Secrecy Act (BSA) imposes a robust set of requirements on various industries to include banking organizations, mortgage lenders, gambling institutions, insurance agencies, and more. The main goal of the BSA is to help the government detect and prevent money laundering as well as terrorist financing. From this main goal, the rule requires reporting of various transaction types both individually and in the aggregate and reporting of suspicious activities. This webinar will help understand the fundamental requirements of the BSA/AML statutes and the annual AML training requirements.
From the basis of a risk assessment comes the additional requirements of Customer Identification Program, Customer Due Diligence, and Anti-Money Laundering. In addition to these risk-based requirements within the BSA/AML statutes are the requirements to file Currency Transaction Reports and recording of the Purchase/Sale of Monetary Instruments.
This webinar will explain these fundamentals of the BSA/AML requirements from risk assessments and evaluation compliance program to the reporting requirements at the transaction level. It will further go through an example of an AML fraud ring and identification of red flags within a BSA/AML program. It will also provide the fundamentals of completing risk assessment and making it a useful tool.
Why Should You Attend:
The Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) rules cover an in-depth set of requirements across several industries. The scoping and planning of an examination process is guided by the examiner’s review of the BSA/AML risk assessment. Information gained from the examiner’s review of the risk assessment drives the scoping and planning process as well as the evaluation of the adequacy of the BSA/AML compliance program.From the basis of a risk assessment comes the additional requirements of Customer Identification Program, Customer Due Diligence, and Anti-Money Laundering. In addition to these risk-based requirements within the BSA/AML statutes are the requirements to file Currency Transaction Reports and recording of the Purchase/Sale of Monetary Instruments.
This webinar will explain these fundamentals of the BSA/AML requirements from risk assessments and evaluation compliance program to the reporting requirements at the transaction level. It will further go through an example of an AML fraud ring and identification of red flags within a BSA/AML program. It will also provide the fundamentals of completing risk assessment and making it a useful tool.
Areas Covered in the Webinar:
- Customer Identification Program
- Customer Due Diligence and Enhanced Due Diligence
- Anti-Money Laundering Monitoring and Fraud Ring Example
- Risk Assessment
- Currency Transaction Reporting
- Purchase/Sale of Monetary Instruments
Who Will Benefit:
- Compliance/Legal Departments
- Operations
- Frontline Personnel
- Internal Audit Departments
- Chief Compliance Officers
- Compliance Officers
- Operations Personnel
- Frontline Personnel
- Branch Managers
Course Provider
Kara Lamphere,
