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BSA Critical Issues

Discussion of updates to the Bank Secrecy Act due to the AML Act of 2020. What requirements do these new rules impose on financial institutions, and what do we have to look forward to?

OnDemand
Recorded Wednesday,
November 9th, 2022
Presented by Carl Pry
2h total length
2.5 CRCM Credits
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Auditing
  • BSA
  • Compliance
  • Fraud
  • General Compliance
  • Bank Legal Counsel
  • Bank Secrecy Act Officer/BSA Specialist
  • Compliance Officer
  • Risk Manager

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AML/BSA compliance is always near or at the top of any compliance professional's list of topics to monitor. The Anti-Money Laundering Act of 2020 made several substantial changes to the BSA statute, and it’s now up to FinCEN and the prudential regulators to put them into practice by amending the regulation and exam procedures. Most critical is a change to the beneficial owner rules that took effect in 2018; eventually (key word there) these requirements will be shifted onto businesses to be maintained in a government database. We seen the first few new regulations from FinCEN to put these requirements into effect. How should financial institutions deal with that now though? As well, we’ll see changes in SAR procedures and the inclusion of federal AML priorities into individual institutions’ BSA policies. There is a lot going on – in this webinar, we’ll cover the new requirements, talk about what’s coming and when, and provide recommendations on how to deal with critical BSA/AML issues right now.

What You'll Learn

  • The AML Act of 2020 – what’s in it, what it means, including changes to the Beneficial Owner rules
  • New regulations from FinCEN
  • Additional coming regulatory changes
  • Current examiner expectations
  • Hot spots and developing areas of concern
  • Enforcement trends and actions – what we can learn
  • AML threats in digital activities and cyber
  • Cannabis banking and AML expectations
  • Weaknesses in CDD programs

Who Should Attend

The program is designed for BSA Officers, Compliance Officers, Auditors, and those responsible for either overseeing BSA in general or those within the lending business units with BSA responsibilities.


Carl Pry

Instructor Bio

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors in Washington, DC. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.


Credit Information

BSA Critical Issues has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for Live attendance only. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.