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Friday, November 13, 2020

Leveraging BSA Controls for More Effective OFAC Compliance

Start Date: 5/13/2020 1:00 PM MDT
End Date: 11/13/2020 2:30 PM MST


Organization Name: Independent Bankers of Colorado

Contact:
Tara F. Hunter
Email: thunter@ibcbanks.org
Phone: (303) 832-2000

Leveraging BSA Controls for More Effective OFAC Compliance
1:00 pm – 2:30 pm MT

OFAC compliance is no joke!  Failure to comply can result in huge fines and penalties.  Now is the time to broaden your knowledge of the 2019 OFAC guidelines and how to use your BSA/AML program to mitigate risk.
 
AFTER THIS WEBINAR YOU’LL BE ABLE TO:

  • Create and manage an OFAC compliance program based on May 2019 OFAC guidelines
  • Discuss other recent developments regarding OFAC
  • Explain the overlap between OFAC and BSA/AML risk management
  • Leverage your BSA/AML program to mitigate OFAC risk
 
WEBINAR DETAILS
The US Treasury’s Office of Foreign Assets Control (OFAC) administers and enforces economic and trade sanction programs against targeted foreign governments, individuals, groups, and entities to support national security and foreign policy goals and objectives.  In general, the OFAC regulations require financial institutions to:
 
  1. Block accounts and other property of specified countries, entities, and individuals and
  2. Prohibit or reject unlicensed trade and financial transactions with specific countries, entities, and individuals.
 
Who must comply with OFAC regulations?  How do the Bank Secrecy Act/anti-money laundering requirements fit in?  What types of records must be kept?  What if my financial institution is found noncompliant?  Don’t risk the substantial consequences of noncompliance.  In many cases, civil and criminal penalties have exceeded several million dollars.  Join us to learn how to leverage BSA/AML controls to conquer OFAC compliance. 
 
WHO SHOULD ATTEND?
This informative session is designed for compliance personnel, particularly those responsible for OFAC and BSA/AML compliance.
 
TAKE-AWAY TOOLKIT
  • Sample AML/OFAC policies
  • Sample AML/OFAC risk assessment
  • Employee training log
  • Interactive quiz
 
DON’T MISS THESE RELATED WEBINARS!
BSA High-Risk Customers: Identifying, Enhanced Due Diligence & Monitoring
on Wednesday, January 8, 2020
 
Updating Your CDD Program:
Beneficial Ownership, Triggering Events & New SSN Verification

on Wednesday, May 20, 2020
 
Avoiding BSA Compliance Violations
on Tuesday, December 1, 2020  

  MEET THE PRESENTER
Carl Goss, Hunton Andrews Kurth LLP 
Carleton Goss is an attorney with Hunton Andrews Kurth LLP.  His practice focuses on both US and non-US FinTech, banking, broker-dealer, exchange, insurance, asset management, and specialty finance companies and their directors, senior officers, and investors on transactional, enforcement, and regulatory matters.  He received his law degree from the New York University School of Law and undergraduate degree from Rice University.  Before joining Hunton, he was a senior associate in the Washington D.C. office of a large international law firm and a member of the legal department of the Office of the Comptroller of the Currency.




THREE REGISTRATION OPTIONS – WHAT YOU GET
1. Live Webinar Includes
  • One connection to the Live Webinar
  • Handout and Take-Away Toolkit
  • Available on desktop, mobile & tablet
  • Presenter’s contact info for follow-up
2. Recorded Webinar Includes
  • Available 6 business days following Live date
  • Handout and Take-Away Toolkit
  • Available on desktop, mobile & tablet
  • Free Digital Download, yours to keep
  • Share link with anyone at your institution
  • Presenter’s contact info for follow-up
3. Purchase the BOTH Option to receive all the benefits listed above!