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AML/BSA Basics and Compliance

AML/BSA Basics and Compliance

Money laundering continues to be a major national concern.


High levels of drug-related activity and violence have drawn additional attention to this area of financial institution compliance.


Terrorist activities need to be considered as well. Because criminals have adapted to bank efforts, banks can no longer combat money laundering with yesterday's methods.


Software is widely installed to identify specific patterns and "unusual" transactions. But the fraudsters know this and are constantly striving to create transaction patterns where their transactions will not be flagged. Like in a game of chess, the advantage belongs to the side that thinks the most moves ahead.


FinCEN has issued substantial revisions to AML requirements focused on a major expansion of Know Your Customer into what is now Customer Due Diligence, CDD. The requirements extend far beyond the basic knowledge of the Customer Legal Entity to the Beneficial Owner of that entity and its Controlling Persons. The requirements force the bank to focus beyond the initial customer acceptance step, requiring updating and ongoing monitoring against baseline "normal" activity for the customer type.


The material in this valuable program is based on research and actual investigations. Mr. George spent over twenty years in Miami assisting retail banks. The instructor describes common laundering techniques and the bank policies and procedures that are needed to respond to these threats.


This timely, two-hour CPE training event is designed for the internal auditor, compliance professional and others who wish to improve their AML and BSA tradecraft skills.


Each attendee will receive 2 CPE Hours (YB). A certificate of completion will be provided.



Program Level of Understanding: Basic

Prerequisites: None

Advance Preparation: None

Delivery Format: Group Internet Based

NASBA Field(s) of Study: Business Ethics

CPE Credits: 2, based on 50 minutes of instruction per hour


  • Details on Event Presentation

    Being offered twice a quarter on Thursdays at 10:00 a.m. to noon Central Time.

    We can schedule private events on your timetable for two or more attendees.
  • CPE Event Highlights

    The event covers why money laundering is one of the primary regulatory concerns for any financial institution. The event will cover:

    • The regulatory requirements that are in place,

    • The current state of Customer Due Diligence compliance requirements,

    • How to design internal controls and compliance processes,

    • Process to create to detect money laundering attempts,

    • Managing the Investigating of AML alerts,

    • Analyzing controls improvement options.

  • Learning Objectives

    Attendees will understand the:

    • Definition of money laundering

    • History of money laundering

    • Red flags of structuring

    • Red flags of micro-structuring

    • Red flags of "cuckoo smurfing"

    • Affects allowing money laundering on the financial institution

    • Need to communicate with the BSA officer

    • Red Flags for Identity Theft

  • Key Issues on the Agenda

    The major agenda items within this intense CPE training event are:

    • Requirements of the Bank Secrecy Act (and related areas of the USA PATRIOT Act)

    • Customer Due Diligence (CDD)

    • Know Your Customer (KYC) requirements

    • Currency Transaction Reports (CTRs) requirements

    • Suspicious Activity Reports (SARs) requirements

    • New Customer Due Diligence requirements

    • Steps specifically required by the regulations

    • Analytic engines

    • Current issues and problems

    • AML and Fraud overlaps

    • Adaptation by perpetrators

    • False Positive Problem

    • Major fraud categories

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