BSA Deep Dive – April 2023


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Every month we present a session called the AML TurboTalks that covers all the news from the previous month, which covers many topics at a very high level. In our BSA Deep Dive, we take more time to cover some of those news items in detail.

With the bank failures and the repercussions afterwards, you may have missed some of the important BSA/AML news items. In this month’s Deep Dive, we will be covering the Beneficial Ownership Recommendation #24 from FATF, FinCEN’s Initial BOI Reporting Guidance and the concerns with it, lessons learned from a Consent Order from a community bank with only $700M in assets, the Wells Fargo $97.8M penalties from the FRB and OFAC, as well as some key OFAC guidance on export controls to prevent Russians from evading sanctions.

We will also delve into the takedown of the crypto mixer, ChipMixer, the CFTC suit against Binance and its CEO Zhao, and also learn some lessons on the cyberwar from Ukraine.

At the end of our Deep Dives, we have an unrecorded, open discussion on topics of interest to our participants. Come Join Us!

All attendees are eligible for 1 non-ACAMS credit for attending and will receive a certificate of attendance to submit to ACAMS.

Our Host:

Nancy Lake has over 16 years of experience in the BSA/AML world and was CAMS certified in 2008. Nancy received her CAMS-Audit certification in 2013 and her CAMS-FCI certification in 2015. She has conducted bank wide BSA/AML training, including Board of Director training. Along with conducting monthly online training, Nancy speaks at numerous conferences through the year in the U.S., and even overseas. For six years, she was an instructor at the PA Bankers School of Banking, and for 7 ½ years Nancy served as Director of Compliance Anchor, the training and consulting division of Atlantic Community Bankers Bank. Nancy has utilized her BSA experience as an educator to assistance to financial institutions in the areas of training, risk management, and the development of sound internal programs and best practices for the past 16 years. She has previously served as BSA Officer in multiple community banks where she successfully created and implemented the entire BSA program, including one bank with numerous international MSBs. Nancy has experience working with and implementing several automated BSA/AML transaction monitoring systems. In September 2020, Nancy joined ARC Risk and Compliance as their Director of Training.

Recorded on Thu, Apr 13, 2023 2:00 PM – 3:00 PM EDT


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