Learn
the latest and most important legal and regulatory developments in
the Bank Secrecy Act, anti-money laundering and OFAC compliance.
Many professionals in the financial area find themselves tasked with meeting various aspects of anti-money laundering laws and regulations. These laws apply to a wide swath of businesses including car dealerships, banks, credit unions money services businesses and financial technology companies (fintechs).
For many companies, questions outnumber solutions. What should our anti-money laundering program include? How can we avoid problems without regulators? This topic is designed to address the basic design of the anti-money laundering regulations and the proper framework for meeting regulatory requirements.
The material will help you understand the components of a BSA compliance program and what it should be designed to achieve and is critical for the design and implementation of an anti-money laundering program that is effective and compliant.
Learning Objectives:
- You will be able to define the various stages of money laundering and how they look in everyday transactions.
- You will be able to describe the regulatory expected parameters for a complete and compliant BSA anti-money laundering program.
- You will be able to explain why knowing the business model of your clients is the best way to develop an effective BSA compliance program.
- You will be able to review the process for identifying high-risk accounts and making the decision to keep these accounts or de-risk them.
This Live Webinar Covers These Hot Issues:
Overview
- Why We Have BSA Laws and Regulations; Money Laundering Has Been a Part of Our World Since the Beginning of Society
- Brief Description of the Significant BSA Law Changes Over the Past 30 Years - a Discussion of the Focus of the Significant BSA Regulations
- Why Do We Care About This Topic – Recent Examples of How Money Laundering Impacts Our Daily Lives, Laundered Money Has Been Used to Do Everything From Funding Terrorism to Child Trafficking
- Today Money Laundering Is Used to Fuel Several Illicit Industries
- Stages of Money Laundering
- Placement – Introducing Dirty Money Into the Financial System
- Layering – Attempts to Separate the Source of the Money From Its Owner
- Integration - Returning the Money to the Owner in a New and Clean Form
- What to Look for to Determine Each of These
- The Five Pillars – the Basic Requirements of a Complete BSA Compliance System
- Risk Assessments - the Basic Document to Use to Set up the BSA Program
- CIP - the System for Identifying Who Your Customers Are and What to Expected From Them
- KYC – the True Heart of an Effective Anti-Money Laundering Program, Knowing Who Your Customer Is and More
- EDD - Some Customers Require More Monitoring Than Others, These Are High-Risk Customers
- SARS – When Activity Being Conducted by Your Customer Is Unexplained, Time to File a SAR
- MSB's
- MRB's
- Regulators
Credit Information (Sponsored by Lorman Education Services)
- CLE
- CPE
- NASBA
For Detailed Credit Information page
click here
Only registered attendee will receive continuing education credit.
Faculty
James DeFrantz, CRCM, CAMS, J.D., Virtual Compliance Management
- 30 years of experience in financial service regulatory compliance
- Worked with money service businesses in the United States and internationally
- Specialist in compliance in consumer and real estate lending
- Served as a senior compliance examiner at the Federal Reserve Bank in San Francisco; as an analytical manager at the Office of Thrift Supervision; and as a commissioned national bank examiner at the Office of the Comptroller of the Currency (OCC)
- He has a certificate from the Pacific Coast Banking School of bank management
- Certified regulatory compliance management and certified anti-money laundering specialist
- J.D. degree, University of San Francisco; B.A. degree, Dartmouth College
(Not available outside the US)