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

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.