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Course Details

BSA / AML and OFAC - Continuing Developments

Webinar: ID# 1000772
Date: Recorded
About This Course:
Some 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 mortgage lending. Think again.

With the safety and soundness of the entire industry the focus of news stories every day and well-publicized enforcement actions, the regulators obviously haven't eased up. In fact, recent enforcement actions suggest risk assessments for BSA are still in focus.

This webinar covers where the risk areas are in these rules, and where examiners are criticizing institutions. Your comprehensive program must be updated continually, and we'll make sure you have the information you need to meet expectations.What You'll Learn:
  • Updating your risk profiles, including due diligence
  • Where regulatory attention is being placed
  • Changes in funds transfers and BSA definitions
  • Currency Transaction Reporting hotspots
  • Suspicious Activity Reporting - the backbone of an effective BSA program, plus e-Filing
  • Selling monetary instruments for cash - collecting and retaining information, plus the addition of gift cards
  • Funds transfer record keeping
  • OFAC rules - who to screen?
  • Blocked and rejected transactions - what's the difference and how do you know which to do?
  • Additional requirements, such as 314(a), PEPs, and Pouch activities
  • Identifying customers and maintaining proper evidence under CIP rules
  • FinCEN hotspots and areas for review
  • And more
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BSA / AML and OFAC - Continuing Developments
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