2022 September BSA School Two Day Special – Day 2 & Day 3

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Description

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


Day 3: Advanced 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: Advanced BSA (Part 2) Agenda: Thu, Sept. 15, 2022 9:00 AM – 4:30 PM EST

9:00 am – 10:30 am Terrorist Financing and Proliferation Financing
10:30 am – 10:45 am Break
10:45 am – 11:00 am FinCEN’s AML/CFT Priorities
11:00 am – 11:15 am Payments/Fintechs (Where Fintechs/Payments are headed and how it will affect the banking industry)
11:15 am – 12:00 pm 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
12:00 pm – 1:00 pm Lunch
1:00 pm – 2:15 pm Elder Abuse /Human Trafficking
2:15 pm – 2:30 pm Break
2:30 pm – 3:30 pm Virtual Currency and Central Bank Digital Currencies (CBDCs) monitoring)
3:30 pm – 4:30 pm Cannabis Program Considerations

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.

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