This is a two-part series. The prices below are including both sessions. Each session can also be attended individually by clicking on the links below.
March 31, 2021 - BSA/AML & OFAC Compliance - Part I
April 5, 2021 - BSA/AML & OFAC Compliance - Part II
Some people might think that regulatory attention to the BSA has let up over the past couple of years, given other difficulties and areas of concern, such as fair lending, TRID, HMDA, and UDAP. Think again. With the safety and soundness of the entire industry the focus of news stories every day and many well-publicized enforcement actions, the regulators obviously haven't eased up. These rules are still very close to being the #1 issue facing compliance officers. This is a timely topic, as provisions of the National Defense Authorization Act (NDAA) are set to transform several aspects of the BSA over the coming months and years.
The new(er) Beneficial Owner rules became effective a few years ago now, injecting a new level of complexity into the mix (although these requirements are likely to be drastically changed in the near future). In fact, we can’t cover all the intricacies and details of both BSA/AML and OFAC in just one webinar. This is therefore a 2-part series, where we’ll discuss in Part 1 the Bank Secrecy Act provisions in general, including program requirements, risk assessments, CTRs, SARs, and the Beneficial Owner provisions, among other things.
In Part 2, we’ll discuss the Customer Identification Program (CIP) rules, other BSA reporting, including funds transfer recordkeeping, PEPs, pouch rules, and the Office of Foreign Asset Control (OFAC) regulations.
In both sessions, we'll talk about where the risk areas are and where examiners are criticizing institutions. Your comprehensive program must be continually updated, and we'll make sure you have the information you need to meet expectations.
Who Should Attend
These rules impact most anyone in your institution who has direct dealings with customers, such as Customer Service Representatives and tellers. But others are impacted as well, like loan officers and others who make important customer-related decisions. Compliance officers, auditors, attorneys, and management too will benefit from this information, as well, as they often are the ones who must draft these complex programs, administer them, and audit them.
Continuing Education Credit Information
Recommended for 5 CEU Credit Hours. After attending this webinar, each attendee can receive a Certificate of Attendance for self-reporting of CEU Credits.