BSA Information Sharing: 314(A) and 314(B)

Recorded: September 3, 2024
Presented by: Mark Dever, AAP, CAMS, Director, Forvis Mazars, LLP

Under Section 314 of the USA PATRIOT Act, law enforcement agencies investigating terrorist activity or money laundering may ask FinCEN to solicit certain information from financial institutions on their behalf. In addition, FinCEN encourages financial institutions and associations of financial institutions located in the United States to voluntarily share certain information to identify and report activities that may involve terrorist activity or money laundering. This two-hour webinar will review both sections of the information sharing program, as well as discuss overall information sharing requirements and responsibilities.

Here’s What You Will Learn:

• Section 314(a) requirements;
• Section 314(b) opportunities;
• Section 314(b) Fact Sheet;
• Exam Focus – Information Sharing; and
• Allow time for questions from participants.

This Webinar will also:

• Complement existing internal education sessions to help meet the annual BSA training requirements for compliance and audit personnel; and
• Allow time for questions from participants.

Recent well-publicized BSA enforcement actions, fines, and deferred prosecution agreements continue to support a climate proving that BSA compliance remains of paramount importance to all financial institutions. This two-hour webinar from ProBank Education Services will not only provide the compliance and audit staffs with a current update on compliance with the information sharing requirements and opportunities, but it will also discuss other regulatory and legal issues related to countering terrorist financing activities.