Bank Secrecy Act / Anti-Money Laundering Examination Manual 2021 Update #2 – ON-DEMAND WEBINARS

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Overview

Recorded: August 20, 2021

Presented by: Mr. Mark Dever, VP and Senior Consultant, FORVIS

A ninety-minute webinar to update members of the compliance community on the June 2021 updates to the BSA/AML Examination Manual. First published in its current format sixteen years ago, and last fully updated over six years ago, these updates are the next in what FinCEN has indicated will be a series of updates to the examination guide. Many of these revisions are designed to emphasize and enhance the Agencies’ risk-focused approach to BSA/AML supervision. The Agencies made revisions throughout the updated sections to ensure the language clearly distinguishes between mandatory regulatory requirements, and supervisory expectations set forth in the guidance.

Here’s What You’ll Learn:

  • International Transportation of Currency or Monetary Instruments Reporting – the CMIR Form – FinCEN Form 105;
  • Purchase and Sale of Monetary Instruments Recordkeeping – the Monetary Instruments “Log”;
  • Reports of Foreign Financial Accounts – the FBAR – FinCEN Form 114;
  • Special Measures – Section 311 of the USA PATRIOT Act; and
  • Examine “feedback” obtained from panel discussions with examiners and from examinees attending our full-day BSA training programs.

Recent well-publicized BSA enforcement actions, fines, and deferred prosecution agreements continue to support a climate proving BSA compliance remains of paramount importance to all financial institutions. This ninety-minute webinar from FORVIS will not only provide the compliance and audit staffs with a current “snapshot” of the impacts from the updated sections of the examination manual, but it will also discuss other regulatory and legal issues related to anti-money laundering and counter-terrorist financing activities.

Who Should Listen

This webinar will be of most value to members of the compliance community to help them prepare for a successful BSA/AML examination, and to assist them in meeting their annual BSA training requirements. The webinar will also be helpful to senior audit managers.

Program Level: Basic

Prerequisite: Basic Knowledge of Anti-Money Laundering and Bank Secrecy Act

Advanced Preparation: None

Field of Study: Specialized Knowledge

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Any recording, transmission, retransmission, or republishing of any portion of this webinar is prohibited.

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