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Back to Basics: The Bank Secrecy Act

In this Back to Basics installment, we'll cover the requirements imposed upon your financial institution by the Currency and Foreign Transactions Reporting Act of 1970, also known as the Bank Secrecy Act.

OnDemand
Recorded Friday,
June 18th, 2021
Presented by Michael Christians
1h 30m total length
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • BSA
  • Compliance
  • Lending
  • Bank Secrecy Act Officer/BSA Specialist
  • Branch Manager
  • Compliance Officer
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • Internal Auditor
  • New Accounts Representative
  • Private Banker
  • Security Officer
  • Teller
  • Trainer

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In this Back to Basics installment, we'll cover the requirements imposed upon your financial institution by the Currency and Foreign Transactions Reporting Act of 1970, also known as the Bank Secrecy Act.

The Bank Secrecy Act requires financial institutions to assist U.S. government agencies in the detection and prevention of money laundering and in preventing the financing of terrorist activities. Specifically, the Act requires financial institutions to keep records of cash purchases of negotiable instruments, file reports of cash transactions exceeding a certain threshold and report suspicious activity that might signify money laundering, tax evasion or other criminal activity.

The "Back to Basics: The Bank Secrecy Act" has been approved for 1 CAMS credit. Credits are redeemable for Live attendance only. Users must connect to the streaming individually and enter their name and email for reporting purposes. Accreditation is valid for one year from the date of the event. To receive a certificate, email Streaming@OnCourseLearning.com.

What You'll Learn

  • Risk Assessments
  • Customer Identification Program
  • Customer Due Diligence
  • Suspicious Activity Reporting
  • Current Transaction Reports
  • Monetary Instrument Logs
  • Wire Transfers
  • Information Sharing
  • Office of Foreign Assets Control (OFAC)
  • Testing, Training and Record Retention

Who Should Attend

Tellers, new accounts representatives, deposit operations personnel as well as managers, compliance professionals and auditors would all benefit from participating in this webinar.

Michael Christians

Instructor Bio

As principal of Michael Christians Consulting, LLC, Michael assists financial institutions and organizations across the country with ensuring their compliance programs conform to Federal laws and regulations. He provides counsel relative to current rules, assists with the strategic implementation of upcoming regulatory changes and offers customized education and training services. Michael has more than two decades of experience in the financial services industry with a primary focus on consumer compliance. He obtained his Juris Doctorate from Drake University Law School. He is a member of the Iowa State Bar where he is licensed to practice law.

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