Understanding FinCEN Rules, Advisories & Notices
From paper to protection: turn FinCEN advisories into actionable BSA controls. FinCEN’s advisories don’t just create paperwork — they map out the red flags, reporting expectations, and evolving risks that can make or break a BSA program, empowering institutions to proactively detect and disrupt sophisticated financial crime.
KEY WEBINAR TAKEAWAYS
- Developing a process for reviewing communication from FinCEN and updating your AML/CFT program
- Utilizing recent FinCEN advisories, alerts and notices to update your institution’s BSA risk assessment
- Currency transaction and suspicious activity reporting rules
- Your responsibilities under the 314(a) and 314(b) information sharing process
BONUS MATERIALS
- FinCEN communication tracker
- Sample reporting procedures
WEBINAR DETAILS
FinCEN (Financial Crimes Enforcement Network) has issued a number of advisories since its creation way back in 1990. These advisories generally provide background information, red flags, and SAR completion instructions for financial institutions to follow regarding potential threats to the banking system or current high-risk crimes or fraudulent activities. Staying on top of the latest information provided by FinCEN is vital.
In this session designed for new BSA officers, we will review FinCEN’s role within the requirements of the Bank Secrecy Act. We will discuss the reports, including CTRs and SARs, submitted directly to FinCEN and how to file those reports to ensure they meet the expectations of reviewers. We will also examine recent guidance issued by FinCEN and how to incorporate recommendations into your policies and procedures.
