Without question, these are challenging times for BSA/AML officers, made even more challenging by the COVID-19 pandemic. The Bank Secrecy Act (BSA) was enacted in 1970 to combat organized crime and tax evasion. In the 1980s and 1990s, its focus became money laundering and narcotics trafficking, and then, after 9/11, it became a primary weapon against terrorist financing. The BSA has now evolved to include areas such as human trafficking, elder abuse, and a host of other financial crimes. At the same time, regulatory requirements and examiner expectations have continued to expand, adding to compliance costs and burdens.
New technologies have emerged that could potentially increase the effectiveness and efficiency of the system, but also create vulnerabilities that can be exploited by criminals. Meanwhile, there is a growing consensus for BSA reform within the financial services industry, among the regulators, and in Congress, but reform efforts to date have been modest, and reform bills introduced in the Congress have stalled.
During this webinar, we will discuss the latest regulatory guidance, and examiner expectations in the BSA/AML area. We will also discuss emerging high-risk areas provide practical advice on how to navigate the issues and mitigate risks. This webinar will provide seasoned BSA officers with a better understanding of the challenges they face, and discuss ways to ensure that they meet those challenges.
- Understand how BSA/AML requirements and examiner expectations continue to evolve and expand, increasing compliance costs and challenges
- Review how modern technology can increase effectiveness and efficiencies, but also create vulnerabilities
- Discuss the consensus for BSA reform within the financial services industry, and among regulators and legislators
- Identify how the COVID-19 pandemic creates its own set of challenges in the BSA/AML area
$295 Members | $395 Nonmembers
(Additional $50 for CD)
One registration gives your entire credit union access to the on-demand recording until June 4, 2021.
Already registered? Go to the Online Training Center to view live.
Who Should Attend?
- NAFCU Certified Bank Secrecy Officers (NCBSOs)
- NAFCU Certified Compliance Officers (NCCOs)
- NAFCU Certified Risk Managers (NCRMs)
- BSA, AML staff
- Risk, audit, fraud staff
- NCBSOs will receive 1.5 CEUs for participating in this webinar.
- NCCOs will receive 1.5 CEUs for participating in this webinar.
- NCRMs will receive 1.5 CEUs for participating in this webinar.
- CPA credit information is below; recommended 1.5 CPE credits.
CPA Certification Credit Information
- Reviewer: Josie Collins, Education Manager, NAFCU
- Learning Objectives: Understand how BSA/AML requirements and examiner expectations continue to evolve and expand, increasing compliance costs and challenges. Review how modern technology can increase effectiveness and efficiencies, but also create vulnerabilities. Discuss the consensus for BSA reform within the financial services industry, and among regulators and legislators. Identify how the COVID-19 pandemic creates its own set of challenges in the BSA/AML area.
- Program Level: Basic
- Prerequisites Needed: None
- Advance Preparation Needed: None
- Delivery Method: Group Internet-Based
- Recommended CPE Credits: 1.5 credits
- Recommended Field of Study: Specialized Knowledge - Technical
National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more.
About Our Webinars
Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer.