Bank Secrecy Act (BSA) Recordkeeping Requirements – ON-DEMAND WEBINARS

Recorded: July 25, 2022
Presented by: Mr. Mark Dever, CAMS, VP and Senior Consultant, ProBank Austin

In October 1970, Congress enacted the Financial Recordkeeping and Currency and Foreign Transaction Reporting Act, which over time became known as the Bank Secrecy Act (BSA). Although close to 19 million reports will be submitted by the various industry groups required to comply with BSA this year, another integral part of the implementing regulations is the recordkeeping requirements imposed by the BSA. This webinar will review the mandated recordkeeping requirements imposed on the industries.

Here’s What You’ll Learn:

• Basic recordkeeping requirements;
• Account and transactional records;
• Monetary instrument sales records;
• Funds Transfer Recordkeeping requirements;
• “What” to do with the records – SAR monitoring and reporting; and
• Allow time for questions from attendees.

As important as the millions of BSA reports submitted to Treasury each year are in the overall scope of compliance, the records the industries are obtaining, retaining, and using to identify and report suspicious transactions are of equal importance to law enforcement’s efforts to thwart money laundering, terrorist financing, and other financial crime. This ninety-minute webinar from ProBank Austin will provide the compliance and audit staffs with the latest information on the recordkeeping requirements found within the BSA.