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BSA / AML COMPLIANCE CORE TRAINING
 
     
  Summary Description  
  The course is designed to provide basic knowledge on various BSA/AML regulatory topics, reporting requirements, and risk factors as well as provide guidance on account opening and monitoring policies and procedures, and detecting suspicious activities.It can be customized as an annual refresher to cover updates on proposed laws and rules and regulations as well as on the latest key AML issues and significant cases of non-compliance. It can also be used to promote the reinforcement of the institution’s policies and procedures.

BSA/AML seminars are delivered through class discussions as well as team exercises using short scenarios and case studies.

 
     
  Target Audience  
  All bank employees.  
     
  Main Topics  
 

At the end of the course, participants will be able to:

 Distinguish between money laundering and terrorist financing
Identify key entities, laws and regulations
Explain the importance of complying with BSA/AML rules and regulations, its penalties and benefits
Describe the four elements of a compliance program
Describe the key reporting and corresponding retention requirements – CTR, SAR, FBAR, CMIR
Explain the elements for customer risk rating – geographic locations, products and services, and customers and entities
 


Describe the purpose of OFAC and its compliance requirements
Distinguish between due diligence and enhanced due diligence
Define willful blindness
Describe the characteristics of a PEP and a shell company
Explain the key elements of the Know Your Customer / Customer Identification program
Estimate a customer’s expected monthly activity
Recognize suspicious activities
 
       
 
  Duration  
  1-2 days  
     
   
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