BSA Deep Dive – July 2022


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We are in the middle of summer, and many are on vacation and enjoying the warmer weather. However, BSA never slows down as I am sure you well know! Every month we do a session on the latest news in the industry on Payments, Fraud, Cyber, OFAC, Regulator issuances, cannabis, human trafficking, crypto, and a host of other topics. That session is a quick overview of all the news for the month.  

Our monthly Deep Dives take the most important information from the month and delve into some of the key points that are practical for financial institutions. July’s BSA Deep Dive will focus on a variety of topics including: 

  • The “Organized Theft Groups and Organized Retail Crime” report put out by HSI and ACAMS 
  • The crypto oversight bill that has bipartisan support in Congress and give an overview of the law and concerns from banking organizations  
  • FinCEN’s Issuances: ANPRM on No Action, the Elder Financial Exploitation Advisory, Statement on Independent ATM Owners and Operators, the Advisory on Potential Russian & Belarusian Export Control Evasion Attempts 
  • 2021 Federal Human Trafficking Report 
  • FDIC Cease & Desist Order for a Utah Bank 
  • FinCEN’s Joint Statement on the Risk-Based Approach to Assessing Customer Relationships & CDD 

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 Tue, July 19, 2022 2:00 PM – 3:30 PM EST


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