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
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 focus on ML/TF via various markets such as real estate, high-value art, and luxury goods. We will delve into the Corporate Transparency Act and discuss the latest in the beneficial ownership requirements. We will then cover lessons learned from consent orders that will help you strengthen your BSA program.
The afternoon will focus on robust transaction monitoring and what investigators need to consider. We will then discuss how to develop beneficial partnerships with LE and writing effective SARs. We will also cover Exam Manual Updates as they are released, other recent news, and Organized Retail Crime and how that applies to your program. We will conclude the day with a discussion of OFAC and program considerations to protect your institution.
Attendees will be given a variety of resources to enhance their BSA program.
Day 2: Advanced BSA (Part 1) Agenda
9:00 am – 9:15 am – Introduction
9:15 am – 10:00 am – Overview of ML and TF and ML via High-Value Art Market, Real Estate Sector, and Luxury Markets
10:00 am – 10:15 – Beneficial Ownership Including Shell/Shelf Companies/Pandora Papers
10:15 am – 10:30 am – Break
10:30 am – 11:00 am – FinCEN’s NPRM on Beneficial Ownership Reporting
11:00 am – 12:00 pm – Lessons Learned from BSA/OFAC Consent Orders
12:00 pm – 1:00 pm – Lunch
1:00 pm – 1:15 pm – Alert Disposition and Source of Funds/Wealth and Negative News Searches
1:15 pm – 1:45 pm – Effective Partnerships with LE including effective SAR writing, subpoenas, and National Security Letters
1:45 pm – 2:00 pm – Break
2:00 pm – 2:30 pm – Exam Manual Updates and Other Recent News
2:30 pm – 3:00 pm – Organized Retail Crime to Transnational Criminal Organizations
3:00 pm – 4:30 pm – OFAC, FinCEN Alert on Russian Oligarchs, and FinCEN/BIS Advisory on Export Control Evasion
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