BSA Red Flags for Money Laundering: Frontline Annual Training

Your customer comes to the drive thru window and places $10,000 cash into the tube. Then, he presses the call button and asks you to send him a penny back. Do we need to take action against this customer? Do we need to file a CTR? Do we need to file a SAR? These are just a few of the situations that employees at a financial institution face on a daily basis.

What do we consider "suspicious," and will it put your employees and customers into what we will call a "felony moment?" If your customer asks "Should I deposit this large amount of money or what?" The answer your officer gives may encourage the customer to structure, and that is a problem for both the customer and the employee.

This program will answer commonly asked frontline questions, and it will go over the red flags for money laundering for deposits and loans.

What You Will Learn:

  • How can I talk to my customer about currency without getting into a "felony moment"?
  • The money smells like marijuana. Is this something I should be concerned about?
  • The customer told me that she is hiding money from the IRS, should I tell BSA?
  • What are the Red Flags for Elder Abuse?
  • What are some of the scams for loans and mortgages?
  • What are the Red Flags for Identity Theft?
  • When do we tell the BSA officer, and what should we use to communicate?
  • Sample Incident reports for operations, loans and branches
  • The customer washed and ironed the money. Is this suspicious?
  • The customer had me count $15,000 cash and then went to safe deposit box, should I let BSA know?
  • We did not book the mortgage loan so why should I tell BSA that the identification and TIN did not match?

Who Should Attend?

Those who work directly with customers. Tellers, New Accounts, Branch Managers, Loan officers, and Call Centers. It is designed to help the BSA Officer complete BSA training for AML programs.