Description
Day 1: BSA Basics
This session is designed for the new BSA personnel or those wanting a refresher on the basics. We will cover an overview of the BSA, what drives your program and what to include in your program. The morning will cover 314(a), 314(b), Customer Identification Program (CIP) basics, CTRs Step-by-Step and Monetary Instrument/Funds Transfers requirements.
In the afternoon session, we will cover the basics of monitoring, software/data overview and conducting customer reviews. We will also cover SARs Step-by-Step and conclude the day with an overview of the OFAC requirements.
Attendees will be given tools to assist in setting up a solid BSA program.
Day 1: BSA Basics Agenda: Tue, Sept. 13, 2022 9:00 AM – 4:30 PM EST
9:00 am – 9:30 am Introduction to BSA
9:30 am – 9:45 am 314(a) and 314(b)
9:45 am – 10:30 am CIP (Customer Identification Program) Basics
10:30 am – 10:45 am Break
10:45 am – 11:45 am CTRs Step-by-Step
11:45 am– 12:00 pm Monetary Instruments/Funds Transfers
12:00 pm – 1:00 pm Lunch
1:00 pm – 2:15 pm Monitoring Basics & Software/Data Overview
2:15 pm – 2:30 pm Break
2:30 pm – 2:45 pm Conducting Customer Reviews
2:45 pm – 3:45 pm SARs Step-by-Step
3:45 pm – 4:30 pm Overview of OFAC
Day 2: Advanced 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 entity concerns and beneficial ownership recent guidance and the AML provisions of the National Defense Authorization Act. We will conclude the morning with COVID Related Fraud/Cyber Security cases and red flags.
The afternoon will cover an overview of OFAC including the new list issued in December 2020. We will cover a host of BSA news articles and conclude with SAR narrative writing and FinCEN guidance issued during COVID.
Attendees will be given a variety of resources to enhance their BSA program including a SAR guidance filing summary sheet.
Day 2: Advanced BSA (Part 1) Agenda: Wed, Sept. 14, 2022 9:00 AM – 4:30 PM EST
9:00 am – 9:15 am Introduction
9:15 am – 10:30 am Customer Onboarding (CIP/Synthetic ID Theft/Risk Considerations – Customers, Products, Services, Geographies CDD/EDD)
10:30 am – 10:45 am Break
10:45 am – 11:15 am Exam Manual Updates
11:15 am – 11:45am Beneficial Ownership Including Shell/Shelf Companies/Pandora Papers/FinCEN’s NPRM on Beneficial Ownership Reporting
11:45 am– 12:00 pm FinCEN’s ANPRM on Real Estate
12:00 pm – 1:00 pm Lunch
1:00 pm – 1:15 pm Money Laundering
1:15 pm – 1:45 pm Lessons Learned from Recent BSA/OFAC Consent Orders
1:45 pm – 2:00 pm Break
2:00 pm – 2:30 pm OFAC
2:30 pm – 3:00 pm Cyber News & Other BSA Recent News
3:00 pm – 4:30 pm Writing Effective SARs and Partnering with Law Enforcement
Note: As significant changes to regulatory requirements are issued or other news items of importance are published, we will update the agenda topics accordingly. The schedule will remain the same.
Reviews
There are no reviews yet.