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BSA Series: 4 Hotspots - Marijuana Businesses, Elder Abuse, Virtual Currency and Model Validation

Webinar: ID# 1001305
Date: Recorded
BSA Series: 4 Hotspots - Marijuana Businesses, Elder Abuse, Virtual Currency and Model Validation
About This Course:
The Financial Crimes Enforcement Network (FinCEN) has issued a series of guidance's on hot topics this year.

This program goes to those issues that must be addressed: marijuana businesses, elder abuse, virtual currency, and model validation.What You'll Learn:Hotspot #1 Marijuana Businesses

  • Factors that should considered when deciding to open, close or refuse accounts from marijuana businesses.
  • What should be included in the customer due diligence
  • Filing SARs on marijuana-related businesses
  • Red Flags to Distinguish Priority SARs
  • Currency Transaction Reports and Form 8300's

Hotspot #2 Financial Crimes and the Elderly

  • Red Flags for elder abuse or crimes
  • SAR Analysis can help prevent future fraud
  • Cases where financial institution action has assisted the elderly
  • Filing a SAR on Elder abuses

Hotspot #3 Virtual Currency

  • What is it? 
  • Current decisions about who is a money transmitter
  • Questions you may want to ask in your due diligence process
  • Investigating Users

Hotspot #4 Model Validation

  • What is a model? 
  • How do you validate a model?
  • Why examiners are asking for this
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BSA Series: 4 Hotspots - Marijuana Businesses, Elder Abuse, Virtual Currency and Model Validation
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