|Event Date||Wed Mar 3 EST (8 months ago)|
Recent Congressional focus and well-publicized BSA enforcement actions and fines continue to support a climate proving BSA compliance remains of paramount importance to all financial institutions. Treasury continues to rely on financial institutions to serve as the “front-line gatekeepers” for law enforcement efforts to safeguard the U.S. financial system from the abuses of financial crimes, including money laundering and terrorist financing. The federal regulatory agencies continue to rely on financial institutions to take “every reasonable step” to identify, minimize, and manage any risks that illicit financial activity may pose to the individual institution and the industry. Ongoing initiatives by the Financial Crimes Enforcement Network (FinCEN), and continued expansions of the federal examination procedures, reinforce the need to have a strong BSA program at your institution.
This two-day school covers in detail the issues and opportunities in the ever-expanding environment of the Bank Secrecy Act and reviews the entire realm of BSA from “A” to “Z”. From decades old Currency Transaction Reporting (CTR) and various recordkeeping requirements, to institutional risk assessment, customer/member due diligence (CDD), beneficial ownership expectations, and suspicious activity reporting, students from the novice appointee to the tenured BSA professional will find the discussions and interactions to be of great value.
A two-day program designed to encompass the broad range of topics included in the realm of the Bank Secrecy Act and Anti-Money Laundering.
• Designing and Implementing a BSA Program
• Establishing the Appropriate Culture of Compliance
• Customer/Member Due Diligence - The Program and the Process
• Suspicious Activity Reporting (SAR) – (FinCEN Form 111) and Reporting Suspicious Activity
• Establishing a Risk-Based Program of Identifying and Classifying Your Clients
• Overview of Regulatory and Statutory Components of BSA
• Examination Procedures
• Information Sharing (314(b)), and Other Title III Programs
• Completing the Currency Transaction Report (FinCEN Form 112)
• Exempting Eligible Clients from CTR Filing (FinCEN Form 110)
• Pandemic-Related Fraud Schemes
• How OFAC Fits the Process - the Sanctions Compliance Program (SCP) Framework
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.
Mark W. Dever
Vice President, ProBank Austin