High-Risk Products, Services, and Geographies: BSA / AML – ON-DEMAND WEBINARS


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SKU: SWHSG Category:

Recorded: September 17, 2021

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

A two-hour webinar to update members of the compliance community on the current federal list of high-risk products, services, and geographies.

The 2020 update to the interagency BSA / AML exam manual directs the examiner to “determine whether the financial institution has adequately identified its money laundering / terrorist financing risks and other illicit financial activity risks within the operation”, completed by reviewing the institution’s risk assessment. A major ingredient in the risk-assessment is the identification of high-risk products, services, and geographic markets that the institution and/or its clients are located in. This webinar will review the current federal list of high-risk products, services, and geographic markets for inclusion into the “mandated” risk-assessment.

Here’s What You’ll Learn:

  • Review the federal list of high-risk products;
  • Discuss the federal list of high-risk services;
  • Identify the current lists of high-risk geographic areas;
  • Highlight ways to mitigate and minimize said risks; and
  • Allow questions from participants.

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 two-hour webinar from FORVIS will provide the compliance and product staffs with a current “snapshot” of the federally defined high-risk products, services, and geographies that could be factored into the institution’s risk assessment when applicable.

Who Should Listen

This seminar will be of most value to members of the compliance and product management communities, and it will also assist them in meeting their annual BSA training requirements. The seminar will also be helpful to senior audit managers and members of the audit team responsible for performing the independent testing for compliance with the BSA.

Program Level: Basic

Prerequisite/Advanced Preparation: Basic Knowledge of BSA/AML Compliance

Field of Study: Specialized Knowledge

Copyright Disclaimer

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