Anti-Money Laundering and Bank Secrecy Act Compliance

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Item No: BSA-M
Price: $180/$150

DESCRIPTION:

Recent Congressional focus and well-publicized BSA enforcement actions and fines continue to support a climate where BSA compliance remains of paramount
importance to all financial institutions. Treasury continues to rely on financial institutions to serve as the “front-line gatekeepers” for law enforcement efforts to safeguard the U.S. financial system from the abuses of financial crimes, including money laundering and terrorist financing. The federal regulatory agencies continue to rely on financial institutions to take “every reasonable step” to identify, minimize, and manage any risks that illicit financial activity may pose to the individual institution and to the industry. Ongoing initiatives by the Financial Crimes Enforcement Network (FinCEN) and the continued expansions in the federal examination procedures reinforce the need to have a strong BSA program at your institution. This manual covers in detail the major issues and opportunities in the ever-expanding environment of the Bank Secrecy Act.

This is a detailed manual with narrative explanations of regulatory requirements and examination procedures. The manual is an excellent resource for future reference.

TOPICS

  • “Beneficial Ownership” and “Customer/Member Due Dili­gence (CDD)”
  • Currency Transaction Reporting (CTR) – Updated Form 112
  • Money Services Businesses (MSBs), Third-Party Payment Processors (TPPP), Marijuana Related Enterprises (MRE), “De-risking”/Client “Re-Evaluation” and other “High-Risk” Clients
  • Cyber Events and Cyber-Related Crime
  • Email Compromise Fraud Schemes
  • Human Smuggling and Human Trafficking Guidance
  • Disaster-Related Fraud
  • Suspicious Activity Report (SAR) – Latest Trends and Rul­ings
  • Examination Procedures – Latest Updates

DOCUMENTATION COVERING

  • CTR Exemption Opportunities
  • Customer/Member Identification (CIP)
  • Foreign Correspondent Bank and Private Banking EDD
  • SAR for Insurance Affiliates
  • Record Retention Requirements
  • OFAC Compliance
  • Money Laundering Techniques and Suspicious Transactions
  • Information Sources, BSA “Evolution” and “Lessons” from
  • BSA Enforcement Actions

 

 

 

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