The WBA BSA/AML Workshop will take place on October 26 at Glacier Canyon Lodge in the Wisconsin Dells. You have the option to attend in person at Glacier Canyon Lodge in the Wisconsin Dells or attend virtually.
The Workshop will begin at 8:30 a.m. and conclude at 4:00 p.m.
This seminar highlights the ever-increasing federal expectations for AML/CFT/BSA. Customer Due Diligence remains THE focus in BSA compliance, with the major emphasis on Suspicious Activity Reporting. The voluminous changes coming out of AMLA 2020 and the Corporate Transparency Act will be detailed. The latest guidelines on mail-theft-related check fraud, BEC fraud, elder financial exploitation, human smuggling and human trafficking, and kleptocracy are covered. Ongoing monitoring, and due diligence expectations for Hemp-Related / Marijuana-Related Enterprises (HRE/MRE), Money Services Businesses (MSB), 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, and other fraud schemes are reviewed.
Suspicious activity reporting trends and the most recent guidance from Treasury on proper Suspicious Activity Report completion are discussed. The impacts to financial institutions from the current 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 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:
- Anti-Money Laundering Act (AMLA) 2020 and Corporate Transparency Act Implementations
- Beneficial Ownership Modifications: Expected to be Released
- Customer Due Diligence (CDD)
- Suspicious Activity Reporting (SAR) – Latest Trends and Rulings
- Money Services Businesses (MSB), Hemp and Marijuana Related Enterprises (HRE/MRE), Convertible Virtual Currencies (CVC), and Other “high-risk” clients
- Risk Assessments
- Examination Procedures: Latest Updates
- OFAC Compliance: Sanctions Compliance Program (SCP)
- Money Laundering Techniques and Suspicious Transactions
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.
Registration:
The registration fee of $245 includes program registration, instruction and materials, refreshment breaks and lunch for those on-sight. A recording will also be available once this session has officially ended.
Refund Policy:
A refund, less a $25 administrative fee, is provided for cancellations requested on or before October 20.
