Bank Secrecy Act: The Fundamentals - CIP, CDD, EDD, CTR and Current Issues - NASBA CPE Certificate
- Speaker:Jim George
- Product Code:GRC-NR09
- NASBA CPE: 1.2
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About the topic:
This webinar will help to understand the fundamental requirements of the BSA/AML statutes and Money Laundering strategies and techniques.
Money laundering continues to be a national concern. High levels of drug-related activity and violence have drawn additional attention. Terrorist activities need to be considered as well. Perpetrators have adapted to banks’ efforts so banks cannot combat the money laundering with yesterday’s methods. Software is widely installed to identify specific patterns and “unusual” transactions. But the fraudsters know this and are constantly striving to create new patterns where their transactions are designed not to be flagged. Like in a game of chess, the advantage goes to the side that thinks the most moves ahead.
This webinar will provide valuable assistance to all personnel with AML responsibilities in banks or other financial institutions:
- Compliance with regulatory requirements
- Designing controls and compliance
- Detecting money laundering attempts
- Managing the Investigating of AML alerts
- Analyzing controls improvement options
- Understanding money launderers’ strategies and techniques
Areas we will be covering:
- The Bank Secrecy and USA PATRIOT Acts
- Know Your Customer (KYC)
- Currency Transaction Reports (CTRs)
- Suspicious Activity Reports (SARs)
- Steps are specifically required by the regulations
- Analytic engines
- AML and Fraud overlaps
- Adaptation by perpetrators
- False Positive Problem
- The New Customer Due Diligence requirements
- Three covered entity types
- Customer legal entity
- Beneficial owners
- Controlling persons
- New Requirements
- Risk profiles
- Baseline/normal transactions
- Transaction monitoring
- Money Laundering Strategies and Techniques
- New Customer Due Diligence requirements
NASBA CPE - 1.5
Group Internet Based | 1.2 NASBA Credits (1 CPE for 50 minutes) | Management Advisory Services (1.2 CPE) | Intermediate | Prerequisites - None | No advance preparation
Audience that will benefit the most:
- Compliance/Legal Departments
- Frontline Personnel
- Internal Audit Departments
- Chief Compliance Officers
- Compliance Officers
- Operations Personnel
- Frontline Personnel
- Branch Managers
- Compliance and AML areas.
- Supervisor levels
Jim George is an independent consultant to banks focusing on issues of risk and compliance, AML, and fraud. He brings over 25 years as a consultant to major banks in associate partner and principal roles at PriceWaterhouse-Coopers Consulting, IBM Consulting in Bank Risk and Compliance, and Andersen Consulting (now Accenture).
He has also been SVP Operations for a major insurance company providing insurance outsourcing services to the banking industry. Mr. George work has included projects in AML and fraud investigation, prevention, identity/KYC issues, and related systems. His background includes work in bank operations and payments strategy, systems, reengineering, and quality improvement
GRCTS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org