October BSA School Two Day Special – Day 1 & Day 2


Tue, Oct. 19, 2021 9:00 AM – 4:30 PM EST

Day 1: BSA Basics – Introduction to the Bank Secrecy Act, 314(a), 314(b), Customer Identification Program basics including Non-U.S. Citizens, Step-by-Step Procedure to completing CTRs, Monitoring Basics, Conducting Customer Reviews, Step-by-Step Procedure to completing SARs, and an overview of the Office of Foreign Assets Affairs (OFAC) requirements.    

Wed, Oct. 20, 2021 9:00 AM – 4:30 PM EST

Day 2: Beyond the Basics – Key aspects of your KYC/CDD/EDD programs, Red Flags, Recent FinCEN guidance, COVID-19 impacts, important aspects of your OFAC program, key lessons learned via consent orders, components of an effective risk assessment, crypto currencies, Elder Abuse Red Flags, Human Trafficking, Cannabis, and MORE!

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Day 1: BSA Basics Description  

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 – Tue, Oct. 19, 2021 9:00 AM – 4:30 PM EST

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: 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 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 – 11:00 am – Beneficial Ownership Recent Guidance/Shell/Shelf Companies
11:00 am– 11:40 pm – The NDAA (National Defense Authorization Act) AML Provisions
11:40 am– 12:00 pm – COVID – Fraud & Cyber Crime
12:00 pm – 1:00 pm – Lunch
1:00 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 – BSA Recent News
3:00 pm – 4:30 pm – SARs (Narrative Discussion & Guidance Issued During COVID with a Guide Sheet Provided)


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