May 20, 2014

NCUA webinar eyes OFAC, FinCEN compliance

BSA Blast
NAFCU members can read up on anti-money laundering requirements and more under the Bank Secrecy Act in the association'sBSA Blast newsletter.

May 21, 2014 – NCUA is hosting a free webinar at 2 p.m. Eastern today titled "How to be in Compliance with OFAC and FinCEN (Part 1)" for those credit unions interested in learning how to better comply with federal anti-money laundering requirements.

The webinar is offered by NCUA's Office of Small Credit Union Initiatives and features speakers from the Financial Crimes Enforcement Network and Office of Foreign Assets Control. Speakers include Andrea Sharrin, FinCEN's director of compliance and enforcement; Stephanie Brooker, FinCEN's associate director of enforcement; and Adam Maddox, an OFAC sanctions compliance officer. The program will be moderated by Kathryn Baxter.

Today is part one of a two-part series and will give an overview of programs within the Office of Foreign Assets Control and Financial Crimes Enforcement Network, the range of enforcement authorities and their relationships to other regulators.

Part two of the webinar will be June 25. NCUA says this will cover more practice-related matters, such as reporting requirements, emerging money laundering threats and how to create a more effective anti-money laundering compliance program.

Registration for this free webinar is now open.