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AML/BSA Basics and Compliance

AML/BSA Basics and Compliance

Welcome to our "AML/BSA Basics and Compliance" event – a vital session tailored for financial professionals who are keen on mastering the essentials of Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) regulations. In today's complex financial landscape, understanding and implementing effective compliance strategies are more crucial than ever. This event promises to be an insightful journey, unraveling the complexities of Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) regulations and guiding you through the best practices to safeguard your institution.


About This Bank Secrecy Act Training Seminar:


Scheduled every six weeks on Tuesdays from 10:00 a.m. to 12:00 p.m. Central Time, our session is more than just a learning opportunity; it's a space for growth, understanding, and empowerment. Over two hours, we'll dive deep into the world of financial compliance, exploring everything from customer due diligence to the intricacies of managing AML alerts and analyzing controls for improvement.


Why It Matters:


In a world where financial transactions cross borders in the blink of an eye, the importance of robust Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) compliance cannot be overstated. Not only do these regulations protect your institution, but they also play a critical role in maintaining the integrity of the global financial system. Through this event, you'll gain the knowledge and tools to effectively detect money laundering attempts and contribute to a safer financial environment.


What You Will Learn:


Our comprehensive agenda covers a wide range of topics designed to equip you with a thorough understanding of Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) regulations. . From the definition of money laundering and its historical context to the red flags of various structuring techniques and the impact of non-compliance on financial institutions, we've got you covered. You'll also delve into the specifics of Customer Due Diligence (CDD), Know Your Customer (KYC) requirements, Currency Transaction Reports (CTRs), and Suspicious Activity Reports (SARs), among others.


Who Should Attend:


This event is perfect for financial professionals seeking to deepen their understanding of Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) compliance. Whether you're new to the field or looking to refresh your knowledge, our basic program level ensures that all participants, regardless of their prior experience, will find value in the content.


Key Features:

  • Interactive Format: Our Group Internet Based setting ensures an engaging and interactive learning experience, allowing for real-time questions and discussions.
  • Expert-Led Sessions: Learn from seasoned professionals who bring years of experience and insights into AML and BSA compliance.
  • Practical Insights: Beyond theoretical knowledge, gain practical insights into the latest trends, challenges, and solutions in the field of financial compliance.


Earn CPE Credits:


Participants will earn 2 CPE credits, based on 50 minutes of instruction per hour, recognized in the field of Auditing. This not only enhances your professional development but also contributes to your credentials in the financial compliance sector.


Join Us:


Embark on this enlightening journey with us and transform the way you approach AML and BSA compliance. Together, we'll navigate the regulatory requirements and best practices, empowering you to make a significant impact in your institution and beyond. For more information and to register for our next session, please visit our website.


Your journey towards mastering AML/BSA compliance starts here. Let's build a safer financial future together.

  • Details on Event Presentation

    Offered every six weeks on Tuesdays at 10:00 a.m. to 12:00 p.m. Central Time in two CPE-Credit event.

    We can schedule private events on your timetable for two or more attendees.

    NASBA Program Disclosure

    Program Level of Understanding: Basic
    Prerequisites: None
    Advance Preparation: None
    Delivery Format: Group Internet Based
    NASBA Field(s) of Study: Auditing

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

  • 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

  • Summary of the Subject Matter


    This CPE Event is a overview program that covers the regulatory requirements and best practices for ensuring compliance in the realm of Anti-Money Laundering (AML) and Bank Secrecy Act (BSA). By attending this event, participants will gain valuable insights into a range of topics, including customer due diligence, internal controls, detecting money laundering attempts, managing AML alerts, and analyzing controls improvement options.

    Some of the major agenda items include exploring the requirements of the Bank Secrecy Act, understanding Customer Due Diligence and Know Your Customer requirements, familiarizing oneself with Currency Transaction Reports and Suspicious Activity Reports, and staying updated on new Customer Due Diligence requirements. Additionally, attendees will have the opportunity to delve into topics like analytic engines, current issues and problems in AML and fraud, the overlap between AML and fraud, adaptation by perpetrators, the false positive problem, and major fraud categories.


  • Authoritative Sources

    In the realm of financial compliance, especially concerning Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA), staying informed and educated is paramount. For professionals seeking to deepen their understanding and ensure their practices are up to date, the "AML/BSA Basics and Compliance" event stands as a beacon of knowledge. Here, I've gathered some authoritative sources that will complement your journey through this essential seminar, helping you to navigate the complexities of AML and BSA with confidence and authenticity.

    1. Federal Financial Institutions Examination Council (FFIEC): FFIEC provides a variety of educational resources, including the Basic International Banking Self-Study, which offers insights into anti-money laundering measures from an international perspective. While not solely focused on BSA/AML, this resource can broaden your understanding of global compliance issues.

    2. Federal Deposit Insurance Corporation (FDIC) - AML Resources: The FDIC offers a comprehensive overview of AML policies, aimed at assisting banks in developing and maintaining effective AML programs. This resource is a cornerstone for any financial professional looking to deepen their understanding of AML frameworks and ensure their practices are robust and compliant.

    3. Office of the Comptroller of the Currency (OCC) - BSA/AML Compliance: The OCC's handbook on BSA/AML compliance is an essential guide for national banks and federal savings associations. It provides detailed insights into compliance requirements, risk management practices, and examination procedures. This resource is invaluable for professionals seeking to navigate the regulatory landscape with confidence.

    4. FinCEN - Guidance and Advisories: The Financial Crimes Enforcement Network (FinCEN) plays a pivotal role in the United States' efforts to combat money laundering and financial crimes. Their collection of guidance, advisories, and FAQs offers clarity on complex issues, helping institutions to align their practices with current regulations and enforcement priorities.

    Securities and Exchange Commission (SEC) - AML Source Tool for Broker-Dealers: For those in the securities industry, the SEC's AML Source Tool is a treasure trove of information. It compiles statutes, rules, and guidance on AML compliance specifically for broker-dealers, facilitating a deeper understanding of the obligations and best practices within this sector.

    Financial Industry Regulatory Authority (FINRA) - AML: FINRA provides a wealth of information on AML compliance for firms under its umbrella. From training videos to regulatory notices, this resource supports financial professionals in staying abreast of evolving AML expectations and enhancing their compliance programs.

    Each of these sources offers a unique perspective and depth of knowledge in the field of AML and BSA compliance. By engaging with these resources after you attend this Bank Secrecy Act training seminar, you'll gain a well-rounded understanding that not only complements the "AML/BSA Basics and Compliance" event but also enriches your professional practice in meaningful ways.

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