Sept. 28, 2012 – Credit union board and supervisory committee members will meet yearly training requirements by attending NAFCU’s Oct. 10 webcast on Bank Secrecy Act and Office of Foreign Assets Control compliance matters, and early registration discounts continue until Oct. 3.
The webcast is designed to meet the needs of credit union board and supervisory committee members and audit committee members. In addition to board and supervisory committee training requirements, participants will also learn about recent fines assessed for BSA rule violations and how credit unions can avoid such penalties in their own programs.
The Bank Secrecy Act governs financial institutions’ reporting of large transactions and suspicious activity and reporting to officials about those activities. Rule violations can bring civil and criminal penalties, which can include fines up to $1 million or twice the value of the transaction, whichever is greater; and five to 10 years in prison.
The Oct. 10 webcast speaker is John Misgen, CPA and senior compliance consultant for CliftonLarsonAllen LLP. NAFCU members and nonmembers may attend this webcast, which will remain available online. A CD is also available. Register now.