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BSA Critical Issues

Webinar: ID# 1041932
Recorded On-Demand
About This Course:
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 FinCEN and the prudential regulators are now slowly putting 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've 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 eventually see changes in SAR procedures and the inclusion of federal AML priorities into individual institutions' BSA policies.What You'll Learn:
  • The AML Act of 2020 implementation - a slow but sure process
  • New regulations from FinCEN, especially around Beneficial Owner rules (and the new reporting mechanism)
  • 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
BSA Critical Issues
or via On-Demand
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