Understand the factors, players and events that have shaped the modern BSA landscape. From cartel cash in the 1970s to terrorist financing in the early 2000s, this preconference session will examine the real-world landscape that gives us the BSA rules and regulations we know today.
Get a brief overview of the players (e.g. FinCEN, Treasury and examiners) and the game (i.e. money laundering versus terrorist financing). You'll learn how BSA and OFAC rules came to be, and get a brief overview of BSA and OFAC requirements. You'll also explore case studies to see how it all connects.
The Customer Identification Program (CIP) is a crucial component of your credit union's BSA program. This session will outline the importance of this program—and why yours should be as comprehensive as possible.
Regardless of job title, everyone in your credit union should receive BSA training at hiring, and continue that training annually. Learn how to create a holistic training framework to enhance the program at your credit union. You'll cover how to set BSA standards, and the role of the BSA officer, and how to select a good candidate.
Good internal controls go hand-in-hand with a truly independent test of your organization's BSA program. Explore the regulatory requirements involved and gain tools to measure your credit union's compliance. You'll also get best practices from some of the industry's leading BSA experts.
The foundation to any successful BSA compliance program is risk assessment. But what does a BSA risk assessment look like? It's much different than a traditional risk assessment! Learn how to spot risks and create a compliant risk assessment for your credit union.
Explore record keeping requirements, plus all the reporting requirements for credit unions. This session will have an extra focus on a detailed CTR and SAR breakdown.
Every credit union should establish a system to identify suspicious behavior, investigate the underlying facts, and initiate a SAR in the appropriate circumstances. If one step fails, the entire process is compromised and your credit union will be at risk of potential BSA violations. Utilizing decades of experience and real world scenarios, you'll discover effective methods to ensure your credit union is fully compliant with its growing BSA responsibilities. From the initial observations to the final SAR filing decision, every aspect of internal procedures will be covered.
With NCUA examiners issuing findings for monitoring systems that don't allow you to review your transaction monitoring system, the risk(s) to your BSA program are as prevalent as ever. This session will review the best practices for managing your transaction monitoring system.
FinCEN recently identified common shortcomings in Anti-Money Laundering (AML) enforcement actions. One key takeaway is that your credit union's culture is critical to its compliance. Although enforcement actions are specific to the financial institution and the characteristics of the situation, some general lessons can be gleaned from these actions.
Receive an in-depth review of CIP requirements, documentation for verification purposes, and ongoing monitoring. This session will also explore the heightened requirements for MSBs.
Members and accounts can bring very different risks. Why is an account all of a sudden sending out foreign wires? Why is your member logging into online banking from overseas 75% of the time? Cover the key risk indicators you need to be watching for, and what you can do to establish a baseline of normal behavior for these accounts. In addition to natural person accounts, this session will look at how you can de-risk business accounts as well.
Get an update from FinCEN on their current and existing rule making process. For those looking to get a leg up on this rule, attending this session is the perfect way to learn the "who, what, when, where and why" of FinCEN rules for 2018 and beyond.
BSA rules and regulations come with a number of different civil and criminal penalties for non-compliance. Learn the current BSA liability trends. Are institutions being fined, and are the regulators looking into steeper, possibly criminal penalties for non-compliance?
Go behind the scenes and learn first-hand from law enforcement professionals on the front lines. Hear stories about sophisticated criminals getting away with money laundering schemes, including what criminals are doing to succeed, and how they are getting caught.
Join this panel discussion on the practical application of BSA for program development and ongoing monitoring. You'll discover how the program has progressed, the challenges, the surprises, and the on-going BSA work that has helped bankers get comfortable with the cannabis industry. The panel will also discuss the legal and policy landscape of marijuana banking as well as the opportunities and risks for credits unions entering the marijuana market.
FinCEN rules provided new guidance on cyber event SARS. You'll walk away from this session with the knowledge needed to comply with the new guidance. You'll get an overview of credit union cybersecurity risks, plus the guidance and language needed to craft your cyber event SARS.
Experience an in-depth exploration of recent FinCEN and OFAC enforcement actions so you're credit union will be prepared and ready.
A look at typical investigation methods by law enforcement, how they reach out to credit unions, and how to address the privacy concerns when reporting suspicious activity to law enforcement.