Day 2: Beyond the Basics of BSA (Part 1) Description
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: Beyond the Basics of BSA (Part 1) Agenda – Wed, Oct. 20, 2021 10:30 AM – 6:00 PM EST
10:30 am – 10:45 am – Introduction
10:45 am – 12:00 pm – Customer Onboarding (CIP/Synthetic ID Theft/Risk Considerations – Customers, Products, Services, Geographies CDD/EDD)
12:00 pm – 1:00 pm – Lunch
1:00 pm – 1:15 pm – Beneficial Ownership Recent Guidance/Shell/Shelf Companies
1:15 pm– 1:55 pm – The NDAA (National Defense Authorization Act) AML Provisions
1:55 pm – 2:10 pm – Break
2:10 pm– 2:30 pm – COVID – Fraud & Cyber Crime
2:30 pm – 3:15 pm– Lessons Learned from Recent BSA/OFAC Consent Orders
3:15 pm – 3:45 pm – OFAC
3:45 pm – 4:15 pm – BSA Recent News
4:15 pm – 4:30 pm – Break
4:30 pm – 6:00 pm – SARs (Narrative Discussion & Guidance Issued During COVID with a Guide Sheet Provided)