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