Description
*Updated to include guidance Financial Crimes Enforcement Network’s (FinCEN) 200-page proposed rule aimed at reforming BSA programs released earlier in April. Given the potential impact of this proposal, we want to ensure the webinar reflects the most current and relevant information.
As your institution’s BSA/AML officer you are responsible for managing effective dates and timelines that change in an instant, updating policies and procedures to reflect new requirements, pushing information out to staff members, monitoring accountholder transactions for anything suspicious, and staying informed about the next change, advisory, or guidance issued. This session will address current and pending BSA regulatory issues that bring the highest risk and are most often cited by examiners. This includes beneficial ownership, risk rating accountholders, and SAR reporting guidance from FinCEN. In addition, the program will focus on high-risk BSA topics, including CIP for POAs and other fiduciary relationships, reporting incidents of elder financial exploitation and check fraud, cannabis business activities, and cryptocurrency scams. It will also cover the rules for accessing FinCEN’s beneficial ownership database and updating new account procedures.
Learning Objectives:
- Define your institution’s current BSA/AML risks and the impact of proposed BSA regulation and changes
- Apply provided best practices to identify and monitor high-risk accountholders
- Review updated chapters to the BSA/AML Exam Manual
- Understand the areas of highest-risk facing your institution, including cryptocurrency, check fraud, and elder financial exploitation
- Utilize the information and tools provided to inform your management and board of current AML/CFT expectations and future changes
* Please note that the recording access will be delivered to you via a downloadable document in your confirmation e-mail. The materials that corresponds with the recording will be automatically delivered upon purchasing via email from the website.
