Understanding the Difference between Money Service Businesses, Money Transmitters and Agents of Money Transmitters
December 14, 2022
REGISTER NOWDescription:
Register by November 4th and take advantage of our Early Bird Pricing!
All registrations to Compliance Resource webinars include five live connections AND the recording of the webinar (guaranteed for one year).
Understanding the Difference between Money Service Businesses, Money Transmitters and Agents of Money Transmitters has been submitted to ABA Professional Certifications for CE credit review and is pending approval. Once we receive notification of the credit approval, we will notify attendees.
WHAT
This webinar will provide attendees with a clear understanding of the difference between MSBs, Money Transmitters and Agents of Money Transmitters. Learn business practices for risk rating the different types of businesses.
Understanding the difference between MSBs, Money Transmitters and agents of money transmitters are important to determine the level of risk and required documentation needed to appropriate manage the relationship. This webinar provides attendees with a clear understanding of the difference between MSBs, Money Transmitters and Agents of Money Transmitters, documentation required, and best business practices for monitoring these relationships throughout the duration of the relationship. This webinar will also discuss case studies of how financial institutions learned they had these types of clients without knowledge of the clients banking with them.
PROGRAM CONTENT
Upon completion of this program, attendees will understand:
- Regulatory requirements for MSBs, Money Transmitters and Agents of Money Transmitters
- Documentation requirements needed at account opening
- Best business practices for documenting these types of high-risk reviews
WHO
This program is designed for Client Facing Teams, BSA and Fraud, Compliance Officers, Internal Audit, Information Security/Technology, and Senior Management.
*This program will start at 2:00 PM EST, 1:00 PM CST, 12:00 PM MST, or 11:00 AM PST
**Recording Included
This webinar will be recorded and sent to all registrants. You will receive links to the recording following the program. These recordings have unlimited viewings and are available for up to one year.
Register by November 4th and take advantage of our Early Bird Pricing!
Presenters:
Terri Sands
Terri Sands, CAMS – Audit, AAP, CFE, At-Risk Adult Crime Tactics Specialist (ACT) is the founder of Secura Risk Management and leads the company in its strategic efforts to offer the most pressing and needed services in payments, BSA/AML, Cybersecurity and fraud. Throughout her career, Terri has served as a leader in the payments and fraud prevention industry, providing education, risk management and compliance consulting and support services geared toward the specific needs of financial organizations. Terri consults and speaks frequently for regulatory and governmental agencies on topics including payments risk management and strategy, operational compliance, BSA/AML, financial crimes, operational risk management improvements and efficiencies. Terri has authored numerous publications and articles on payments risk management, fraud prevention, money-laundering prevention strategies, elder financial exploitation, and identity theft red flag compliance. Terri also serves as the Director of the Payments Risk Management for State Bank & Trust where she is responsible for payments risk management and payments strategy. Terri is an Advanced Certified Anti-Money Laundering Specialist (CAMS – Audit), a Certified Fraud Examiner (CFE), an At-Risk Adult Crime Tactics (ACT) Specialist and an Accredited ACH Professional (AAP).
Prior to founding Secura, Terri served as co-founder of Payments Information Circle (PIC), a service organization providing payments industry education, auditing, consulting, resources, and support services to financial organizations throughout the country. Prior to her work at PIC, Terri served as the President of the Georgia Automated Clearing House Association (GACHA), a non-profit, regional payments association where she provided strategic direction for the association and its membership. Terri began her career in payments as a Senior Analyst with the Federal Reserve Bank of Atlanta where she provided training throughout the Sixth District and served on the Federal Reserve ACH Conversion Team that consolidated ACH Services for all branch locations in the Sixth District. In addition, Terri led the efforts for training financial institutions throughout the Sixth District on the National Electronic.
December 14, 2022