Venue
Virtual Event

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Event Date Wed Jun 23 EDT (4 months ago)
Location Virtual Event
Region Americas
Details

This seminar highlights the increased federal expectations for BSA. Customer/Member Due Diligence remains THE focus in BSA compliance, with the major emphasis being on Suspicious Activity Reporting. The latest guidelines on account management, ongoing monitoring, and due diligence expectations for Hemp-Related/Marijuana-Related Enterprises (HRE/MRE), Money Services Businesses (MSB), Third-Party Payment Processors (TPPP), and other “High-Risk” Clients are highlighted. Institutional risk assessments, and the latest guidance on high-risk products and services, convertible virtual currencies (CVCs), cyber events and cyber-related crime, e-mail compromise fraud schemes, human trafficking and human smuggling, elder and vulnerable adult exploitation, ransomware, unemployment insurance fraud, and other pandemic-related fraud schemes are reviewed.

Suspicious activity reporting and the most recent guidance from Treasury on proper Suspicious Activity Report completion are discussed. The impacts to financial institutions from the currently being updated federal BSA examination procedures are identified. The regulations affecting financial institutions from the Office of Foreign Asset Control (OFAC) are highlighted and the Sanctions Compliance Program (SCP) framework is discussed. Suspicious transactions, terrorist financing, and other money laundering techniques are also reviewed.

Currency Transaction Reporting (CTR), Exemptions from CTR reporting, Customer/Member Identification (CIP) requirements, foreign correspondent banking and private banking account management, SAR reporting requirements for insurance affiliates, record retention requirements, and the evolution of BSA are documented in detail. This seminar assists financial institutions in meeting the annual training requirements imposed by the BSA regulations, and provides attendees the opportunity to network with other professionals interested in BSA compliance.

TOPICS:
• Customer/Member Due Diligence
• Suspicious Activity Reporting (SAR) - Latest Trends and Rulings
• Money Services Businesses (MSB), Third-Party Payment Processors (TPPP), Hemp and Marijuana Related Enterprises (HRE/MRE), Convertible Virtual Currencies (CVC), and Other "High-Risk" Clients
• Pandemic-related Fraud Schemes
• Risk Assessments
• Examination Procedures - Latest Updates
• OFAC Compliance - Sanctions Compliance Program (SCP)
• Money Laundering Techniques and Suspicious Transactions

DOCUMENTATION COVERING:
• Currency Transaction Reporting
• CTR Exemption Opportunities
• Customer/Member Identification (CIP)
• Foreign Correspondent Bank and Private Banking EDD
• SAR for Insurance Affiliates
• Record Retention Requirements
• Information Sources
• BSA " Evolution" and "Lessons" from BSA Enforcement Actions

Who Should Attend?
This program is designed for personnel who have management-level responsibilities for BSA compliance. Individuals with retail banking, risk management, compliance, audit, operational, corporate banking, and training responsibilities will benefit from this program. No advance preparation is required.

Speakers

2021 Speaker

PRESENTER:

Mark Burnside, CRCM
Vice President and Senior Consultant, ProBank Austin

Sponsors & Partners

2021 Partners

• Utah Bankers Association
• NC Bankers
• Montana Bankers Association
• Indiana Credit Union League
• IOWA Bankers Association
• Community Bankers Association of Georgia
• West Virginia Bankers Association
• IBAT
• PA Bankers Association
• CBAO
• TSL
• NYBA
• Maryland Bankers Association
• Louisiana Bankers Association
• Independent Bankers of Colorado
• Oregon Bankers Association
• Kentucky Bankers Association
• Washington Bankers Association
• Virginia Bankers Association
• Tennessee Bankers Association
• Michigan Bankers Association
• NHBA
• Idaho Bankers Association
• BCAC
• Indiana Bankers Association
• Ohio Bankers League
• South Carolina Bankers Association
• NC Bankers Association
• NMBA
• Oklahoma Bankers Association