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BSA Training

Bank Secrecy Act (BSA) Training Courses

Get training to meet your Bank Secrecy Act (BSA) training requirements!

Banks are required to have processes that determine which transactions are potentially suspicious and implement strong BSA compliance program that uses comprehensive Customer Due Diligence (CDD) policies, procedures, and processes for all customers, particularly those that present a higher risk for money laundering and terrorist financing.

What Is the Bank Secrecy Act?

Enacted in 1970, the Bank Secrecy Act (BSA), sometimes referred to as the Currency and Foreign Transactions Reporting Act or the anti-money laundering law (AML), is a U.S. law intended to curtail incidents of money laundering. Specifically, the BSA requires U.S. banks and financial institutions to aid government entities in identifying and stopping actions that could indicate the presence of money laundering within their organizations.

To ensure BSA compliance, all financial institutions must submit or keep on file a variety of documents such as currency transaction reports (CTRs), suspicious activity reports (SARs) and Foreign Bank Account Reports (FBARs). These reports pertain to the types of transactions that are most likely to indicate money laundering activities. The penalties for failing to file the reports or comply with other Bank Secrecy Act requirements range from significant fines to imprisonment.

How To Become A BSA Officer

As part of their compliance efforts, every financial institution must also have a designated BSA Officer. Typically appointed to the role by the board of directors, this is a high-level individual with extensive knowledge of the Act and can communicate with examiners and regulators regarding the status of the institution's compliance initiatives. Timely, relevant Bank Secrecy Act training is essential for anyone that holds or is seeking to fulfill this crucial role.

What You'll Learn From Our BSA Compliance Training Courses

Our comprehensive Bank Secrecy Act certification training courses cover everything you need to know to execute the job of the BSA Officer effectively and efficiently. Our BSA banking courses provide bank secrecy act training covering BSA regulations, Bank Secrecy Act requirements, the BSA reporting requirements, and other Bank Secrecy Act compliance requirements, including:
  • Red Flags for money laundering
  • Definitions and building blocks for your BSA policy
  • When it says "policy", "procedure", or "process" in the exam manual - what is the difference?
  • Things that are exam hotspots in your policy
  • What is the Board involvement in your policy? Why are somethings better in procedures than in the policy?
  • Using the FFIEC exam manual to guide you through the process
  • Wires and monetary instrument recordkeeping rules
  • Customer Identification Rules
  • Internal Audit requirements
  • Risk assessing your BSA Officer
  • How to keep risk fluid in your organization
  • Customer Identification Programs - changing and evolving your program
  • Customer Due Diligence and High Risk Customers
  • Nonresident alien accounts and W-8BENs
  • Training requirements and things you might not know

Find BSA Compliance Training Courses

To find your desired BSA compliance training courses, either select a Recommended Course from the list below, or select "BSA" and your state from the "Professional Development" section of the search box at the bottom of this page.

Recommended BSA Training Courses:
  • BSA Requirements
    This course will introduce you to the fundamental Bank Secrecy Act requirements that every BSA officer needs to know. You'll become familiar with the Act and learn about the various CTR and SAR documentation and filing requirements. You'll also learn how to implement a strong Customer Identification Program (CIP) and gain an understanding of the relationship between the BSA and the USA PATRIOT Act.
  • BSA for the Frontline
    Regarded as the most crucial annual Bank Secrecy Act training initiative in years, this program covers the new BSA Customer Due Diligence rules that directly impact tellers, loan officers and other frontline bank employees. Not just for BSA officers, this training can benefit any employee who interacts with customers. You'll learn how to identify the red flags that indicate money laundering and much more.
  • BSA Red Flags for Money Laundering
    Financial institutions must watch out for numerous red flags that can indicate the potential for money laundering. This course helps you identify many of the more common behaviors, activities and transactions that are the telltale signs of money laundering, such as deviations from normal bank dealings, inconsistent documentation like multiple IDs and the reluctance to provide details regarding a business entity.
  • BSA Series: 4 Hotspots
    Marijuana Businesses, Elder Abuse, Virtual Currency and Model Validation: This program covers the four "hotspot" issues that are currently the focal point of the Financial Crimes Enforcement Network (FinCEN). Sample topics include how to file SARs on legal marijuana-growing operations, how to identify red flags for elder abuse and questions to ask when conducting vital currency due diligence.
  • BSA: New Customer And Due Diligence Requirements
    Learn about the FinCEN "final rule" relating to the due diligence requirements for new customers. Get educated on the best practices regarding crucial due diligence elements including customer identification and verification, developing a customer risk profile and monitoring for reporting suspicious transactions.
  • The Currency Transaction Report, Line by Line
    Our informative webinar takes you through every line of the CTR to enhance your understanding of this vital report. Most importantly, you'll learn how to avoid the typical errors that take time to correct — and in some cases, could result in fines and penalties. You'll also receive training on the most recent CTR updates and rule interpretations.

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Why Choose Bank Training Center For Your Bank Secrecy Act Compliance Training Needs?

TrainingCenter has been helping professionals in industries such as banking, insurance, finance, real estate and accounting meet their training, certification and licensing requirements since 1994. Here at BankTrainingCenter.com, we focus on providing timely, relevant educational resources regarding the most relevant and timely banking industry topics.

We offer multiple ways to meet your training requirements, including online courses and webinars, in-person seminars and offline publications — we make it easy to find a format that suits your learning preferences. Whether your goal is to meet compliance requirements or engage in training to boost your knowledge and enhance your career, you'll find the right program for your needs.

Feel free to contact us if you have questions about any of our Bank Secrecy Act training courses.
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