In this 3-part series, we’ll delve into every aspect of BSA and OFAC compliance, from program expectations, risk assessments, CTRs, SARs, CDD, EDD, beneficial owner rules, and much more.
We’ll also talk about recent legal and regulatory activities around various of these rules, especially the Beneficial Owner Information (BOI) reporting rules. We’ll discuss where we are presently and what should be done. We’ll also discuss where the risk areas are and where examiners are criticizing institutions. Your comprehensive program must be continually updated, and we’ll make sure you have the information you need to meet expectations.
Included Webinars
BSA/AML and OFAC Compliance – Part 1
BSA/AML and OFAC Compliance – Part 2
BSA/AML and OFAC Compliance – Part 3
Series Details
BSA/AML and OFAC Compliance – Part 1
Latest legislative and regulatory developments
Valuable resources
Purpose of the Bank Secrecy Act
BSA program requirements, including the 4 pillars
The BSA risk assessment process – critical tool for compliance
Factors and methodology of BSA risk assessment
Currency Transaction Reporting (CTR) – hotspots and details, including exemptions
BSA/AML and OFAC Compliance – Part 2
Waiting for the impending Customer Due Diligence (CDD) rules around Beneficial Ownership – what to expect
Discussion of the legal status of the BOI database and reporting requirements for businesses
Suspicious Activity Reporting – the backbone of an effective BSA program
Customer Identification Program (CIP) requirements
Due diligence responsibilities, including Customer Due Diligence (CDD) – Know Your Customer
Beneficial Ownership rules – where we stand now and what will be changing
Enhanced Due Diligence (EDD) for high-risk customers
Money Services Businesses (MSBs) – a special type of customer
Selling monetary instruments for cash – collecting and retaining information
Funds transfer recordkeeping – more information collection
BSA/AML and OFAC Compliance – Part 3
Information sharing provisions under the USAPA
Marijuana and hemp banking
Elder abuse
Human trafficking
Digital currencies and related issues
Identifying customers and maintaining proper evidence under CIP rules
BSA enforcement and penalties
OFAC rules – who and what to screen?
Blocked & rejected transactions – what’s the difference and how do I know which to do?
Handling sanction programs compliance
What You’ll Learn
Each webinar will offer best practices and techniques you can implement in your organization.
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