Your financial institution is full of customers who require many types of services. The BSA exam identifies many services and customers as high-risk for money laundering. We will cover the high-risk customers and services listed in the BSA exam manual and begin to see their impact on our AML program. We will look at what makes a customer or service high risk. What extra due diligence is required when the customer is high risk? And can the high-risk customers and services impact your bank’s BSA risk rating?
Covered Topics
- Nonresident Aliens and Foreign Individuals (NRA)
- Politically Exposed Persons (PEP)
- Embassy and Foreign Consulate Accounts
- Nonbank Financial Institutions and MSBs
- Professional Service Providers
- Nongovernmental Organizations and Charities
- Cash Intensive Business
- Bulk Shipments of Currency
- Electronic Banking
- Funds Transfers
- ACH
- Electronic Cash
- Monetary Instruments
- Cannabis related businesses (MRBS and HRP)
- Third Party Payment Processors (TPPPs)
Who Should Attend
This webinar is designed for BSA Officers, BSA Coordinators, Compliance Officers, and Security Officers.