The Spring 2022 Collaborative BSA School: Day 2 & 3 - Advanced

Recorded: March 30-31, 2022     

Note: This course will give you access to Day 2 & 3 of our BSA School event ONLY. Need a refresher on BSA basics? We recommend purchasing the BSA School Bundle which includes Day 1 Basics and Days 2 & 3 Advanced!

Day 2

Beyond the Basics of BSA Part 1:
We will begin the day with a reminder of the key foundations of your BSA program and how that drives your policy and procedures when onboarding customers. We will delve into non-U.S. citizens, synthetic ID Theft, and various types of risks to consider when determining your onboarding policies and procedures. We will also cover all the key updates from FinCEN on the Exam Manual, NPRM on Beneficial Ownership, and the ANPRM on Real Estate and why that is important in light of the Pandora Papers.

The afternoon will cover an overview of OFAC including an overview of “A Framework for OFAC Compliance Commitments” that OFAC references in every consent order since 2019. We will also share key Cyber information as well as some recent BSA news articles. We will conclude with SAR narrative writing and FinCEN guidance issued during COVID.

Day 2 Agenda: 

• Introduction
• Customer Onboarding (CIP/Synthetic ID Theft/Risk Considerations – Customers, Products, Services, Geographies CDD/EDD)
•  Exam Manual Updates
• Beneficial Ownership Including Shell/Shelf Companies/Pandora Papers/FinCEN’s NPRM on Beneficial Ownership Reporting
•  FinCEN's ANPRM on Real Estate
• Money Laundering
• Lessons Learned from Recent BSA/OFAC Consent Orders
• OFAC
• Cyber News & Other BSA Recent News
• Writing Effective SARs and Partnering with Law Enforcement

Day 3

Beyond the Basics of BSA Part 2:
We will begin the morning discussing Terrorist Financing and Proliferation Financing as these are two of FinCEN’s priorities as they implement the AML Act regulations. Then we will delve into the ever-evolving world of payments and fintechs. We will also cover FinCEN’s guidance on Environmental Crimes, and briefly discuss the FDIC’s Proposed Guidance on Third-Party Risk Management and the OCC’s Guidance on Model Risk Management.

The afternoon will cover Elder Abuse and Human Trafficking providing insights into the scope of the problem, red flags for identification, and a number of helpful resources for financial investigators. We will also discuss Virtual Currency and Central Bank Digital Currencies (what they are, how they work and some red flags to assist you in transaction monitoring.) We will conclude the day with discussing some guidelines for your Cannabis program and providing resources to assist you in building a strong program.

Attendees will be given a variety of resources to enhance their BSA program.

Day 3 Agenda: 

• Terrorist Financing and Proliferation Financing
• FinCEN's AML/CFT Priorities
• Payments/Fintechs (Where Fintechs/Payments are headed and how it will affect the banking industry)
• FinCEN's Guidance on Environmental Crimes, the FDIC's Proposed Guidance on Third-Party Risk Management, and the OCC's Guidance on Model Risk Management
• Elder Abuse /Human Trafficking
•  Virtual Currency and Central Bank Digital Currencies (CBDCs) monitoring)
• Cannabis Program Considerations

• Your registration includes:
• A copy of the presentation materials
• Unlimited video replay

Refund Policy:

If you will have any issues with attending the simulcast, we offer a No Questions Asked Refund Policy any time before the start of a live simulcast.

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