BSA/AML & OFAC Compliance: Three Part Series
Some people might think that regulatory attention to the Bank Secrecy Act (BSA) had decreased over the past couple of years, given other difficulties and areas of concern, such as fair lending, TRID, HMDA, and UDAP. Think again. With the safety and soundness of the entire industry the focus of news stories every day and many well-publicized enforcement actions, the regulators obviously haven’t eased up. These rules are still very close to being the #1 issue facing compliance officers. This is a timely topic, as provisions of the National Defense Authorization Act (NDAA) promised to change several aspects of the BSA over the coming years, including the Beneficial Owner rules as well as incorporating AML/CFT priorities into institutions’ BSA policies. The rulemaking processes for these changes is already underway.
Included Webinars
- BSA/AML & OFAC Compliance: Part 1
- BSA/AML & OFAC Compliance: Part 2
- BSA/AML & OFAC Compliance: Part 3
Series Details
BSA/AML & OFAC Compliance: Part 1
April 12, 2023, 10:00 am CDT
What You’ll Learn
BSA/AML & OFAC Compliance: Part 2
April 27, 2023, 10:00 am CDT
What You’ll Learn
- 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 & OFAC Compliance: Part 3
May 10, 2023, 10:00 am CDT
What You’ll Learn
- 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
Who Should Attend
These rules impact anyone in your institution who has direct dealings with customers, such as Customer Service Representatives and tellers. But others are impacted as well, like loan officers and others who make important customer-related decisions. Compliance officers, auditors, attorneys, and management too will benefit from this information, as well, as they often are the ones who must draft these complex programs, administer them, and audit them.
Presenter
Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant LLC in Washington, D.C. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.
Registration Options
Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts $769
- Available Upgrades:
- 12 Months OnDemand Playback + $280
- 12 Months OnDemand Playback + CD + $370
- Additional Live Access + $255 per person
