Managing Your Money Service Businesses: Risk, Compliance, and Set-Up Webinar

Designing and implementing an effective BSA/AML compliance program that incorporates an effective means of identifying and monitoring these accounts can be difficult. This session will show you how.

What You’ll Learn

• FFIEC definitions of NBFI’s and MSB’s
• Identifying NBFI and MSB accounts
• Reasons why these types of businesses could pose additional risks
• De-risking and why your institution should not engage in this practice
• Minimum and enhanced customer due diligence for MSBs
• Utilizing a risk-based scoring system to classify business accounts
• Monitoring NBFI and MSB accounts on an ongoing basis
• Real-life challenges faced by BSA Compliance officers

Who Should Attend
This webinar will benefit BSA officers and staff, deposit compliance and staff, deposit operations, compliance officers and staff, and anyone who assists in the management of BSA.