2022 Director Update – Bank Secrecy Act – ON-DEMAND WEBINARS

Date Recorded: April 21, 2022
Presenter: Mark W. Dever, AAP, CAMS, Vice President, ProBank Austin

A forty-five-minute webinar to update members of the board on current issues of interest and concern in BSA compliance.

“With the implementation of the AML Act, we are now at the beginning of a new era for the regulatory regime that guides our work. I expect that years from now, we’ll look back and see 2022 as a year like 2001 or 1970, which is when the Bank Secrecy Act was first passed. If history is any guide, the precedents we set and the rules we write now will stick – perhaps for the next two or three decades”.

Himamauli “Him” Das
Acting Director
Financial Crimes Enforcement Network
United States Department of the Treasury
January 13, 2022

Recent Congressional focus and well-publicized BSA enforcement actions and fines continue to support a climate where BSA compliance remains of paramount importance to all financial institutions. Treasury continues to rely on financial institutions to serve as the “front-line gatekeepers” for law enforcement efforts to safeguard the U.S. financial system from the abuses of financial crimes, including money laundering and terrorist financing. Upcoming changes and planned modifications to the BSA compliance process will continue to impact all financial institutions during 2020.

This forty-five minute webinar from ProBank Austin will provide the “tenured” director with a current “snapshot” of current issues of interest and concern within the area of BSA compliance.

This webinar compliments existing internal education/status sessions to meet the annual BSA training requirements for the board; and it allows time for questions from participants.

HERE’S WHAT YOU’LL LEARN:

• Quick Review of the Director responsibilities under the Bank Secrecy Act;
• Important changes and new developments in BSA;
• Current trends In Suspicious Activity Reporting (SAR) and monitoring; and
• Major Components of Anti-Money Laundering Act (AMLA) of 2020.