October BSA School Two Day Special – Day 2 & Day 3


Day 2: Wed, Oct 20, 2021 9:00 AM – 4:30 PM EST

Day 3: Thu, Oct. 21, 2021 9:00 AM – 4:30 PM EST

Day 2 and 3: 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 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 – 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)


Day 3: Beyond the Basics of BSA (Part 2) Description

Since risk assessments are the driving force behind your entire BSA program, understanding what they are, what should be included and how to write them are critical pieces to the development of your institution’s risk assessment. We will begin the day by covering those elements as well as types of risks to consider. The second half of the morning will be identification of data points, understanding your data and accurately measuring your risks. The morning will conclude with ways to ensure you are effectively presenting those risks to your SR Management and Board of Directors to enable them to understand the policy and procedures you have implemented to mitigate those risks. 

The afternoon will cover three key topics: Human Trafficking, Virtual Currency and Cannabis. We will give definitions for each, recent regulatory updates, red flags, and program suggestions to assist you in managing the risks of all three of these areas. 

Attendees will be given a variety of tools to enhance their Risk assessment and BSA program. 

Day 3: Beyond the Basics of BSA (Part 2)  Agenda – Thu, Oct. 21, 2021 9:00 AM – 4:30 PM EST

9:00 am – 10:30 am – Deep Dive into Risk Assessments (What are they? What should be included? What types of risk do you consider?)
10:30 am – 10:45 am – Break
10:45 am – 12:00 pm – Deep Dive into Risk Assessments cont. (High Risk Customer Management and Understanding and Evaluating Your Data)
12:00 pm – 1:00 pm – Lunch
1:00 pm – 2:00 pm – Human Trafficking (Defined/Victim Stories/Case Study/Red Flags for Branch Personnel/Back Office/BSA Monitoring
2:00 pm – 2:15 pm – Break
2:15 pm – 3:15 pm – Overview of Virtual Currency (Definitions/Guidance/Concerns)
3:15 pm – 4:30 pm – All About Cannabis (Including Marijuana/Hemp/CBD)


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