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Wednesday, November 20, 2019

BSA Special Risks: Policy, Law Enforcement & Regulator Issues

Date(s): November 20, 2019

Time: 1:00 PM  MST - 2:30 PM  MST

BSA Special Risks: Policy, Law Enforcement & Regulator Issues
1:00 pm – 2:30 pm MT


Will your BSA/AML program pass the next exam?  BSA/AML programs must be constantly updated because of the evolving threats of money laundering, financial crimes, and regulatory changes.  What should you know about issues ranging from beneficial ownership to marijuana-related businesses?  This webinar will review what’s old, what’s new, and what’s to come.  It will highlight hot issues and provide key take-aways that will strengthen your BSA/AML program.
 
HIGHLIGHTS

  • Hot issues
    • Marijuana banking – FinCEN guidance and policy development
    • Cybersecurity threats and fraud risks – FinCEN guidance and detection
    • Elder financial exploitation – tips for detection and SAR requirements
    • August 2019 FinCEN advisory on trafficking Fentanyl and Synthetic Opioids (FIN-2019-A006)
  • Enforcement actions – failure to implement risk-driven compliance, untimely SAR filings, inaccurate CTRs, and more
  • CDD and beneficial owners – are you prepared for the next exam?
  • Monitoring for high-risk activities – identification and risk mitigation steps
  • SARs and detecting red flags – new fields and best practices for effective monitoring
  • Inadequate testing and monitoring systems – regulators’ expectations for automated and manual approaches
  • Challenges of banking money services businesses
  • Privately-owned ATMs – definitions, Independent Sales Organization relationships, and best practices
  • Cryptocurrency – FinCEN guidance and special issues
  • TAKE-AWAY TOOLKIT
    • SAR checklist to identify, monitor, and report suspicious activity
    • Sample BSA responsibility matrix, including SAR monitoring and CIP
    • Sample CDD policy for new beneficial ownership requirements and the fifth pillar of BSA
    • SAR investigation report template
    • Format for quarterly BSA/AML/OFAC reporting to the board
    • Employee training log
    • Interactive quiz

 
WHO SHOULD ATTEND?
This informative session is designed for new account representatives, call service representatives, branch managers, assistant branch managers, branch administration, deposit operations, BSA CIP staff, and anyone who works with or manages new accounts.

Continuing Education: Attendance verification for CE credits upon request.
 
NOTE:  All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.
 

  MEET THE PRESENTERS
Susan Costonis, CRCM
Compliance Consulting and Training for Financial Institutions
Susan Costonis is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training. Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.




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