Posts

Dan PetersonBy Daniel J. Peterson

As technology continues to advance faster than ever before, the importance of staying up to date on the latest trends and best practices for the safety of both the bank and its customers is quickly becoming the number one concern for Wisconsin bankers.

As the last several years have shown, a growing number of consumers throughout the state rely on technology and online banking for their day-to-day needs. It is critical that, for continued success and relevance of our industry, bankers are aware of not only how best to serve our customers through offering modern banking amenities, but how to best protect our communities from increasingly more sophisticated — and prevalent — fraudsters.

For this purpose, in addition to ensuring that all Wisconsin banks remain a safe, secure place for finances and sensitive information, the Wisconsin Bankers Association (WBA) will once again host a combined Secur-I.T. & BSA/AML Conference. The conference specifically targets BSA/AML, operations, security, and technology banking professionals looking to remain educated on our ever-evolving industry.

This year’s annual conference will be held September 20 and 21 at Glacier Canyon Lodge in Wisconsin Dells and features a unique variety of speakers. From local professionals and WBA Associate Members to world-famous cyber security expert and ethical hacker Bryan Seely, WBA’s Secur-I.T. & BSA/AML Conference will assist banking teams in understanding how best to protect against hackers, what trends to watch for in money laundering, and so much more. This is an event you don’t want to miss!

By engaging in conferences such as WBA’s Secur-I.T. & BSA/AML Conference, bank leaders can ensure their staff is gaining the most relevant and up-to-date banking-related information from the most knowledgeable individuals in the industry. Along with over seven hours of presentations focused on the safety and security of our banks and customers, bankers will enjoy networking with professionals from across the state and meeting with exhibitors offering products and services that help community banks further advance their customer service capabilities.

Please visit wisbank.com/Secur-IT to register or for additional details.

Peterson is president and CEO of The Stephenson National Bank & Trust, Marinette, and the 2022–2023 WBA Chair.

WBA’s Secur-I.T. & BSA/AML Conference returns in 2022

As cybersecurity and fraud continue to be rising topics of discussion throughout the banking industry, bankers are encouraged to stay informed on the latest trends experts are seeing and how regulations will continue to impact Wisconsin banks by attending WBA’s annual Secur-I.T. & BSA/AML Conference held in Wisconsin Dells.

The two-day conference — beginning September 20 and adjourning at noon on September 21 — draws over 125 BSA/AML, operations, security, and technology professionals from around the state for over seven hours of educational presentations and networking.

This year’s keynote session will feature Bryan Seely, a world-famous cyber security expert, ethical hacker, author, and former U.S. Marine. Seely became one of the most famous hackers in 2014 when he became the only person to ever wiretap the United States Secret Service and FBI. Before he was caught, he confessed to the two agencies that there was an issue that needed to
be fixed.

Unlike many hackers, Seely is passionate about fighting for consumers rights, privacy, and educating the public about how to stay safe in a constantly changing technological landscape. In this keynote session, Seely will highlight the different ways in which hackers think and the new, creative ways professionals must approach security in order to protect the most critical information of the business and customers.

In addition to this captivating keynote speaker, the Secur-I.T. & BSA/ AML Conference offers several breakout sessions and networking opportunities that will assist banking professionals from throughout Wisconsin in further developing their bank’s customer experiences, BSA/ AML program, security, and technology capabilities as the banking and technology industries continue to evolve.

For the first time, this year WBA’s Secur-I.T. Conference will be combined with the annual BSA/AML Conference! These meetings — which cover many functions of a bank such as Bank Security Act (BSA)/Anti-Money Laundering (AML), Operations, Security, and Technology — draw banking professionals from all around the state of Wisconsin for education and networking. The 2021 WBA Secur-I.T. & BSA/AML Conference will be held September 21–22 at the Kalahari Resort and Convention Center in Wisconsin Dells.

Attendees will benefit from over seven hours of presentations from general session topics to breakout sessions by nationally recognized speakers and local professionals; networking with more than 125 banking peers; and meeting several exhibitors who offer products and services geared to help banks with customer experiences, BSA/AML programs, security, and technology.

The conference will kick off with a discussion on virtual currency as that continues to emerge as a hot button conversation for BSA/OFAC risk. The first conference speaker, Robin Guthridge of Wipfli LLP, will discuss FinCEN and the U.S. Treasury advisories regarding the risk virtual currency transactions could present. The event will also explore monitoring and SAR-filing responsibilities relating to virtual currency transactions.

Terri Luttrell from Abrigo will be diving into a topic that is closer to home than many may think. Human trafficking is one of the fastest growing criminal activities in the world, exploiting over 45 million people and generating an estimated $150 billion in profits each year. Financial institutions have a critical role to play in identifying and disrupting human trafficking. This next session at the conference will discuss what financial institutions and BSA professionals can do to help identify, flag, and prevent human trafficking.

The conference will close out with Alex Weber, international speaker, American Ninja Warrior, and awardwinning performer for NBC. Weber’s contagious energy and strategic methods to transform audiences to achieve at their highest levels will certainly leave attendees feeling their best and excited to return to the bank post conference. Whether you are looking for BSA updates, high-tech discussions, peer networking or all of the above, you will want to make sure you are in attendance at this year’s Conference. We hope to see you there!

As first reported on April 2, banks in Wisconsin have been made to file currency transaction reports (CTRs) for their own cash order shipments due to recent BSA examination findings by the FDIC Chicago Region. FDIC has cited technical BSA examination findings if banks did not file CTRs for their own cash order shipments, as applicable.  

In summary, many Wisconsin banks use regional armored car service (ACS) providers, including Thillens, to handle their cash order shipments. In these scenarios, when the bank need order cash from the Federal Reserve, the bank places an order with the ACS. According to FDIC, certain ACS will use cash from of their own inventory, from its own account, to fulfill the bank’s cash order request. In the event the ACS does not have enough cash on hand, the ACS will purchase the cash from a regional bank to fulfill the order for the requesting bank.  

It is FDIC’s position, that because the ACS uses its own inventory/account to satisfy the bank’s cash order request, the ACS is considered an MSB under FinCEN’s BSA rules. As an MSB, the bank need file CTRs for any cash transaction the MSB handled over the CTR reporting threshold.   

Earlier this week, WBA filed with FinCEN a request for an administrative ruling to exempt banks from having to file CTRs on their own cash shipments. Until FinCEN responds, WBA continues to recommend banks, regardless of primary federal regulator, file CTRs on all eligible ACS transactions.   

While FinCEN has not directly instructed WBA how to complete CTR filings for cash shipments by an ACS, including Thillens, WBA recommends the bank identify the ACS as the transactor in Part 1 of the CTR form, checking box 2a “Person conducting transaction on its own behalf”, and “check if entity”. WBA also recommends the bank mark box 24 in Section II “Armored Car (FI Contract)”, and for the bank in Part III to identify the branch(es) involved in the cash shipments. If a bank receives separate instruction directly from FinCEN, the bank need follow FinCEN’s instruction.  

WBA has created a template draft letter should a bank wish to file its own request with FinCEN. If used, the bank need modify the template to meet its own situation, as applicable.

By, Alex Paniagua

FinCEN issues guidance regarding due diligence requirements

Q: Has there been clarification on BSA requirements for hemp-related businesses?

A: Yes. FinCEN recently issued guidance regarding due diligence requirements for hemp-related business customers.

On June 29, 2020 the Financial Crimes Enforcement Network (FinCEN) issued guidance on the requirements under the Bank Secrecy Act for hemp-related business customers. The guidance provides that, in addition to conducting customer due diligence (CDD) on hemp-related businesses at time of application, financial institutions must establish risk-based procedures for conducting ongoing CDD. Specifically, for customers who are hemp growers, financial institutions may confirm the hemp grower's compliance with state, tribal government, or the USDA licensing requirements, as applicable, by either obtaining:

1. A written attestation by the hemp grower that they are validly licensed, or

2. A copy of such license.

Financial institutions might also consider seeking additional information based upon their assessment of potential risk posed by each customer. FinCEN suggests that additional information might include crop inspection or testing reports, license renewals, updated attestations from the business, or correspondence with the state, tribal government, or USDA. It is important for financial institutions to know the nature of their customer's business to best determine the risk profile. 

The guidance also clarifies that because hemp is no longer a Schedule I controlled substance, financial institutions are not required to file a Suspicious Activity Report on customers solely because they are engaged in the growth or cultivation of hemp in accordance with applicable laws and regulations.

Lastly, the guidance confirms that financial institutions must report currency transactions in connection with hemp-related businesses in the same manner they would for any other customers.

FinCEN Guidance

Birrenkott is WBA assistant director – legal. For legal questions, please email wbalegal@wisbank.com.

Note: The above information is not intended to provide legal advice; rather, it is intended to provide general information about banking issues. Consult your institution's attorney for special legal advice or assistance.

By, Amber Seitz

Events

With BSA, the buck stops with the board of directors, who is ultimately responsible for BSA compliance. It’s imperative that they understand how BSA applies to them, the institution, accountholders, and the products offered — because regulators are making examples of some with penalties and enforcement actions.

After This Webinar You’ll Be Able To:

  • Define the five pillars of BSA and the importance of each
  • Understand director responsibilities for establishing and reviewing the BSA program
  • Assess and manage BSA/AML risks
  • Explain the impact of pending BSA regulation and changes
  • Distinguish the key details your examiners will look for in your board reporting
  • Identify 2022 BSA/AML hot topics

Webinar Details
Ultimate responsibility for BSA compliance lies with the board of directors. They must understand the importance of BSA/AML regulatory requirements, ramifications of noncompliance, and the risks posed to their institution. Without a general understanding, the board cannot adequately provide BSA/AML oversight; approve related policies, procedures, and processes; or provide sufficient BSA/AML resources. Regulators are strongly conveying the importance of BSA compliance via recent penalties and enforcement actions against institutions without strong BSA programs. This is a must-attend session for your board and senior management team!

Who Should Attend?
This informative session is designed for directors, senior management, BSA officers, compliance officers, and internal auditors.

Take-Away Toolkit

  • Sample BSA/AML board report
  • Quick reference guide of key BSA/AML terms and requirements
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter

Dawn Kincaid – Brode Consulting Services Inc
Dawn Kincaid began her banking career while attending The Ohio State University. She has over 20 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Kincaid served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Kincaid has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.

Registration Options

  • $245 – Live Webinar Access
  • $245 – OnDemand Access + Digital Download
  • $350 – Both Live & On-Demand Access + Digital Download

We will look at the red flags and scenarios for Elder Abuse, Identity Theft, Business Email Compromise Schemes, and Human Trafficking. We will look at the misuse of POAs, Cash, Fake Emails, Romantic Scams, and more. Learn what the response of your financial institution should be when these activities hit our accounts and our customers. Two of the most disturbing crimes in our country which involve harm to those who are being smuggled into the country and then those who are exploited by human trafficking. Learn how big the crime is in the U.S. and what our response should be. Learn what the differences in these two crimes are and how we can detect these criminals in the banking system.

What You’ll Learn

  • Red Flags for Elder Abuse
  • Privacy Issues in Elder Fraud
  • Romantic Scams, POAs, debit card abuse in elders
  • Identity Theft programs
  • Use of ITIN after SSN
  • Stealing purses and writing bad checks is back
  • How to detect bad identification
  • New Cyber Crimes on the New SAR are focused on business email attacks and compromises
  • Learn how good wire procedures can prevent this
  • Human trafficking
  • Human smuggling
  • Learn how your customers hide and disguise transactions
  • Filing Suspicious Activity Reports

Who Should Attend
All branch personnel, tellers, new accounts, loan officers and call centers who help and protect our customers.

Instructor Bio
Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor’s and master’s degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.

Registration Options

Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts $279

  • Available Upgrades:
    • 12 Months OnDemand Playback + $110
    • 12 Months OnDemand Playback + CD + $140
    • Additional Live Access + $75 per person

SAR filing is on the increase. Can your team accurately identify when a SAR should be filed? Do they know the evolving hot spots? Join us for this line-by-line review to get the latest information on SARs.

After This Webinar You’ll Be Able To:

  • Detail examiner expectations for SAR filing
  • Describe the field-by-field requirements of the SAR form
  • Identify the subject versus the victim
  • Establish monitoring procedures to identify potentially suspicious activity
  • File accurate SARs for emerging areas of fraud
  • Write an effective SAR narrative
  • Explain the impact the AML Act may have on your SAR reporting process

Webinar Details

In the first eight months of 2022, over one million SARs were filed — a 15% increase from the same period in 2021! Most filings go far beyond reporting a “simple” structuring transaction. With the increase in fraud coming from all angles and channels, and the potential for a change to the SAR form and filing process being dangled by the AML Act of 2020, it’s imperative your SAR decision and filing processes are up to the challenges.

Do you know how to properly complete a SAR for emerging hot spots? How can you maximize SAR’s effectiveness as a vehicle for delivering information to law enforcement? Learn how to write an effective SAR narrative, procedures, and best practices for determining when to file, how to complete a SAR, and what to do after filing. This jam-packed session will ensure your institution is ready to file the next SAR!

Who Should Attend?

This informative session is directed to BSA/AML officers, compliance officers, and senior managers.

Take-Away Toolkit

  • Sample SAR completion procedures
  • Sample suspicious incident report
  • SAR review checklist
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter

Dawn Kincaid, Brode Consulting Services, Inc.
Dawn Kincaid began her banking career while attending The Ohio State University. She has over 20 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently, Kincaid served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Kincaid has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.

Registration Options

  • $245 – Live Webinar Access
  • $245 – OnDemand Access + Digital Download
  • $350 – Both Live & On-Demand Access + Digital Download

Can you name five important reasons BSA training must be provided for lenders? Can your program identify loan fraud? When are SARs required? This webinar will address those issues and more, plus provide the required BSA training lenders need.

After This Webinar You’ll Be Able To:

  • Identify red flags for money laundering and lending risk factors
  • Use sample questions for due diligence during the loan application process
  • Understand the importance of BSA due diligence throughout the life of the loan, not just at application
  • Explain the beneficial ownership requirements to legal entities applying for loans
  • Distinguish between normal loan applicant activity and suspicious activity

Webinar Details

BSA examiners are digging deeper and asking more questions about the lending function. Could an examiner find loan fraud that was missed by your due diligence process? Does your institution have a system for identifying false statements and identity theft attempts on loan applications? Do your lenders know such activities may require filing a suspicious activity report? Is your process for documenting beneficial ownership effective? Now is the time to ensure your lenders’ BSA training is up to par.

Who Should Attend?

This informative session is designed for loan officers, loan operations, BSA officers, BSA staff, branch personnel, risk managers, compliance officers, and auditors.

Take-Away Toolkit

  • Customer due diligence checklists under the beneficial ownership rules
  • Template to develop and update a risk profile
  • Procedures template for identifying and verifying beneficial owners
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter

Susan Costonis, CRCM, Compliance Training & Consulting for Financial Institutions
Susan Costonis is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training. Costonis has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Costonis has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.

Registration Options

  • $245 – Live Webinar Access
  • $245 – OnDemand Access + Digital Download
  • $350 – Both Live & On-Demand Access + Digital Download

What happened last year? What will be checked and looked at this year? Managing high risk customers and the ever-changing requirements for what we need and what we don’t need. Getting our three PPPs organized and up to date.

What You’ll Learn

  • Governance – policy, procedures, and processes (PPP)
  • De-Risking and Charities
  • Private ATM Operators
  • CDD and EDD
  • Keep Open Orders
  • SARs
  • Risk Assessments – Updated for National Risk Assessment Changes and National Priorities
  • Beneficial ownership status
  • Training and Audits
  • Lessons learned from enforcement actions

Who Should Attend
BSA Officers, BSA Auditors, BSA staff, management, training, and security.

Instructor Bio
Deborah Crawford is the president of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor’s and master’s degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.

Registration Options

Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts $279

  • Available Upgrades:
    • 12 Months OnDemand Playback + $110
    • 12 Months OnDemand Playback + CD + $140
    • Additional Live Access + $75 per person

We will cover all the 2022 changes to deposit accounts, and recap what needs to be done this year. We will also look at the status of pending legislation and continuing challenges facing the deposit side of the financial institution. We will cover Regulation D, E, CC, DD and the hot topics that surround these regulations. We will also examine the new supervisory issues, FDIC insurance issues, exam hot spots and everything that deposit compliance officers need to do their jobs in 2022.

What You’ll Learn

  • FDIC Insurance Changes
  • Overdraft Programs
  • UDAAP
  • Marijuana and Hemp Update
  • Handling time deposits — renewals, partial withdrawals
  • Who needs a NOW account when we have interest-bearing DDA
  • Error Resolution — Reg E New FAQs
  • Deceased Accounts
  • Tax reporting, B Notices and penalties
  • Nonresident alien interest reporting and W-8BENs

Who Should Attend
This program is designed for deposit operations, deposit compliance, branch administration, bookkeeping, account services and those who run the operations side of the bank.

Instructor Bio
Deborah Crawford is the president of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor’s and master’s degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.

Registration Options

Live Stream: Includes access to the recording for 12 months:  $1049

Where are we now? The FinCrime industry has been waiting for regulatory reform for some time. Now that the Anti-Money Laundering Act (AMLA) of 2020 is law, we see FinCEN and the regulatory agencies taking action to implement desperately needed change. Beneficial ownership is getting the attention and direction it deserves. Regulations are being written to support the FinCEN Priorities and give the industry much needed guidance. Are you ready? This session will discuss the current legislative and regulatory climate and give tips on knowing what your financial institution should do now to prepare. 

Program Take Aways:

  • Now is the time to understand AMLA and create project plan for future regulations/guidance
  • Enhance policies, procedures, and processes for areas that will gain regulatory scrutiny
  • Respond to FinCEN notices and requests for comment – let your voice be heard

Target Audience:  Anyone responsible for the BSA/AML program in your institution

Presenter: Terri Luttrell, Abrigo

Registration Option: Live presentation $330

Recording available through December 21, 2022

Human trafficking is one of the fastest growing criminal activities in the world, exploiting over 45 million people and generating an estimated $150 billion in profits each year. While global in reach, human trafficking also affects individuals, communities and economies across the United States. Through the use of force, fraud and coercion, traffickers compel victims of all genders, ages, and nationalities into situations of labor and sexual exploitation. The basics of supply and demand economics provide one lens through which to understand this criminal enterprise. More often than not, money is the fuel that incentivizes traffickers and fuels the operations of trafficking networks. Financial institutions have a critical role to play to identify and disrupt human trafficking. This session will discuss what financial institutions and BSA professionals can do to help identify, flag and prevent human trafficking.

Target Audience: Anyone involved in the BSA/AML program in your institution

Presenter: Terri Luttrell, Abrigo

Registration Option: Live presentation $330

Recording available through June 10, 2023

It seems like the question of the legality of banking cannabis businesses has gone on forever, but it is a complex topic. With the discussion in Congress of the Safe Banking Act and expanding legality on the state level (although of various degrees), is now the time for your institution to jump into the fray? This webinar will discuss the current state of affairs regarding cannabis banking, including hemp production.

We’ll talk about potential federal legislation and its (eventual) chances. What will this mean? Will it be full legalization across the country or something lesser? What are the risks if you operate in multiple states? How will regulators treat these types of activities and what are the expectations from an AML standpoint? And do bankers need to turn into biochemists to figure all this out? We’ll provide the current lay of the land so every institution can make an educated decision on what it wants to do and how to plan.

What You’ll Learn

  • The current state of banking MRBs (Marijuana-Related Businesses)
  • State legislation and legalization
  • Different styles of legalization – it’s not all the same
  • FinCEN and DOJ guidance – from the Cole memo to more recent guidance
  • Completing SARs for cannabis activities
  • Various federal legislation proposed over the years, and how it might impact future legalization
  • Hemp guidance from the agencies
  • USDA rules of hemp production
  • How all this impacts your institution and important decisions to make”

Who Should Attend
This webinar is intended to anyone involved in the complicated decision to participate in the rapidly-growing cannabis industry. From Boards of directors to executive management, to compliance and risk professionals to attorneys, anyone seeking the current state of affairs on the legalization of cannabis banking activities will benefit from this session.

Presenter Bio
Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors 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 $279

  • Available Upgrades:
    • 12 Months OnDemand Playback + $110
    • 12 Months OnDemand Playback + CD + $140
    • Additional Live Access + $75 per person

Frontline BSA compliance is essential to a successful examination. Training is critical, but training must evolve with the times. Is your training comprehensive enough and does it contain emerging money laundering red flags? Join this webinar to get expert insight into BSA training for the frontline!

After This Webinar You’ll Be Able To:

  • Identify potential money laundering scenarios and understand the reporting requirements for suspicious activity
  • Discuss the new FinCEN advisory on elder financial exploitation issued June 15, 2022
  • Understand the five pillars of an effective AML (anti-money laundering) program
  • Explain due diligence and account opening requirements for legal entity customers under the beneficial ownership rules
  • Distinguish between normal and suspicious activity based on the risk profile

Webinar Details
Job-specific BSA training has been emphasized in the BSA Examination Manual for several years. The frontline’s BSA responsibilities are a huge part of a successful examination. However, simply doing the same training program each year is not adequate. Money laundering activities continue to evolve and frontline training must keep pace with emerging risks. This session will cover the basic expectations for completing CTRs; scenarios for reporting suspicious activity and recent trends in SARs; and the framework for an effective customer identification program for opening new accounts. Join us for a fast-paced review of the basics and also learn about emerging money laundering red flags in 2022.

Who Should Attend?
This informative session will benefit all employees who open and service accounts. It is designed for tellers, new account representatives, customer service representatives, call center employees, loan officers, loan assistants, branch managers, BSA officers, BSA support staff, and anyone involved in the BSA program.

Take-Away Toolkit

  • SAR checklist to identify, monitor, and report suspicious activity based on BSA exam procedures and the risk assessment process
  • Sample BSA responsibility matrix, including SAR monitoring and CIP
  • CTR compliance review checklist
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter Bio

Susan Costonis, CRCM – Compliance Training & Consulting for Financial Institutions
Susan Costonis is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training. Costonis has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.

Registration Options

  • $245 – Live Webinar Access
  • $245 – OnDemand Access + Digital Download
  • $350 – Both Live & On-Demand Access + Digital Download