Some people might think that regulatory attention to the Bank Secrecy Act (BSA) had decreased over the past couple of years, given other difficulties and areas of concern, such as fair lending, TRID, HMDA, and UDAP, and also due to the new administration and new priorities. Think again. With the safety and soundness of the entire industry the focus of news stories every day and many well-publicized enforcement actions, the regulators obviously haven’t eased up. These rules are still very close to being the #1 issue facing compliance officers. As well, we’re seeing momentum toward (finally) modernizing several provisions of the BSA, including adjusting some long-overdue thresholds.
In this 3-part series, we’ll delve into every aspect of BSA and OFAC compliance, from program expectations, risk assessments, CTRs, SARs, CDD, EDD, beneficial owner rules, and much more.
We’ll also talk about where the risk areas are and where examiners are criticizing institutions. Your comprehensive program must be continually updated, and we’ll make sure you have the information you need to meet expectations.
What You’ll Learn:
– Information sharing provisions under the USAPA
– Elder abuse
– Digital currencies and related issues
– Marijuana and hemp banking
– Human trafficking
– Identifying customers and maintaining proper evidence under CIP rules
Who Should Attend:
Anyone in the institution who is involved in anti-fraud measures, including all three lines of defense, and senior management.