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Red Flags and High Risk AML Transactions

Red Flags and High Risk AML Transactions

Dive into the heart of financial integrity with our "Red Flags and High-Risk AML Transactions" webinar. Scheduled every six weeks on Tuesdays between 10:00 a.m. and 12:00 p.m. Central Time, this CPE event is a beacon for those in the financial sector who are committed to upholding the highest standards of compliance and vigilance. For teams seeking a tailored experience, private sessions can be arranged to fit your group’s unique schedule, ensuring that this crucial knowledge is accessible to all who need it.


Event Overview:


In a world where financial transactions are as vast as the ocean, the threat of money laundering looms like a hidden reef, ready to compromise the integrity of your institution. Our webinar serves as a lighthouse, guiding you through the murky waters of Anti-Money Laundering (AML) compliance with clarity and confidence. Over the course of two hours, we'll embark on a journey together, exploring the landscape of money laundering and its implications for financial institutions.


Why This Matters:


Understanding the signs of high-risk AML transactions isn't just about compliance; it's about protecting the very fabric of the financial system. This webinar offers a deep dive into recognizing and responding to the red flags indicative of money laundering, from structuring and micro-structuring to cuckoo smurfing and beyond. With a focus on communication strategies with your BSA officer and a comprehensive understanding of money launderers' tactics, this event empowers you to stand as a guardian of financial integrity.


Learning Objectives:

  • Grasp the Essence and Evolution: Unlock the history and concept of money laundering, appreciating its impact on the global financial system.
  • Spot the Warning Signs: Learn to identify key red flags related to structuring, identity theft, and other sophisticated laundering techniques.
  • Protect Your Institution: Understand the consequences of overlooking money laundering activities and how they can affect your financial institution.
  • Communicate with Confidence: Master the art of liaising effectively with your BSA officer, ensuring a robust defense against potential threats.
  • Navigate Compliance with Ease: Familiarize yourself with essential regulations, from KYC requirements to CTRs and SARs, and embrace new customer due diligence measures.


Key Issues on the Agenda:


Our comprehensive anti-money laundering agenda addresses everything from the foundational elements of the Bank Secrecy Act and USA PATRIOT Act requirements to the latest in compliance technology and strategies. By examining current issues, the overlap between anti-money laundering and fraud, and the challenges of adapting to perpetrators' evolving tactics, we ensure you're equipped to tackle the false positive dilemma with intelligence and efficiency.


Why Join Us?


This webinar isn't just an event; it's a commitment to excellence in the fight against money laundering. By participating, you're not only earning 2 CPE credits but also joining a community dedicated to fostering a safer, more transparent financial environment. Whether you're new to the field or looking to refresh your knowledge, our basic program level ensures an inclusive experience that leaves no one behind.


Your Guides on This Journey:


Led by seasoned professionals in the field of anti-money laundering compliance, our webinar promises insights born from experience and a genuine passion for safeguarding the financial system. Our experts bring real-world examples, cutting-edge strategies, and a warm, engaging approach to learning, making complex regulations accessible to all.


Join the Vanguard of Financial Integrity:


Prepare to chart a course through the complexities of AML compliance with "Red Flags and High-Risk AML Transactions." Register now and anchor your place at the forefront of financial security. Together, let's turn the tide against money laundering and navigate towards a future of unwavering trust and transparency in the financial sector.

  • 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 Disclosures

    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

    Money laundering is one of the primary regulatory concerns for any financial institution.

    This webinar will provide valuable assistance to all personnel with AML responsibilities in banks or other financial institutions:

    • What is money laundering

    • History of money laundering

    • Red flags of structuring

    • Red flags of micro-structuring

    • Red flags of cuckoo smurfing

    • How can allowing money laundering will affect the financial institution

    • How to communicate with the BSA officer

    • What are the Red Flags for Identity Theft

    • Understanding money launderers' strategies and techniques


    This webinar will teach the attendee how to spot money laundering from the branch perspective and from an overall compliance department perspective.

  • Learning Objectives

    This CPE event will cover the following learning objectives:

    • What is money laundering

    • History of money laundering

    • Red flags of structuring

    • Red flags of micro-structuring

    • Red flags of cuckoo smurfing

    • How can allowing money laundering will affect the financial institution

    • How to communicate with the BSA officer

    • What are the Red Flags for Identity Thef

  • Key Issues on the Agenda

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

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

    • Know Your Customer (KYC) requirements

    • Currency Transaction Reports (CTRs) requirements

    • Suspicious Activity Reports (SARs) requirements

    • New Customer Due Diligence requirements

    • Steps are specifically required by the regulations

    • Analytic engines

    • Compliance Issues

    • Current issues and problems

    • AML and Fraud overlaps

    • Adaptation by perpetrators

    • False Positive Problem

  • Summary of the Subject Matter

    This CPE event "Red Flags and High-Risk AML Transactions"  offers an overview into identifying and managing potential red flags associated with high-risk Anti-Money Laundering (AML) transactions. Attendees can expect to gain valuable insights into recognizing suspicious activities, understanding the indicators of potential money laundering, and implementing effective strategies for mitigating associated risks.

    During this event, participants will explore crucial topics such as the identification of unusual or high-risk transactions, detecting potential structuring and layering activities, and understanding the complexities of dealing with high-risk customers or counterparties. Moreover, the session will cover the analysis of red flags associated with politically exposed persons (PEPs), beneficial ownership structures, and non-resident clients to bolster attendees' ability to navigate and address these intricate compliance challenges effectively.

    By attending this CPE event, professionals in the financial sector can enhance their understanding of red flag indicators for high-risk AML transactions, ultimately empowering them to strengthen their institution's AML compliance framework. The insights gained from this event hold the potential to provide professionals with the knowledge and tools necessary to stay ahead of emerging AML risks and protect their organizations from financial crime threats.

  • 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.

    5. 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.

    6. 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 Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) compliance. By engaging with these resources, 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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