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AML/BSA Basics and Compliance

Price

$120.00

Duration

2 CPEs

About the Course

Being offered twice a quarter on Tuesdays at 1:00 p.m. to 3:00 p.m. Central Time.

Money laundering continues to be a major international concern with over $1.6 trillion being moved by criminals each year.

High levels of drug-related activity and violence have drawn additional attention to this area of financial institution compliance.

Terrorist activities need to be considered as well. Perpetrators have adapted to a banks' efforts so that banks cannot combat the money laundering with yesterday's methods.

Software is widely installed to identify specific patterns and "unusual" transactions. But the fraudsters know this and are constantly striving to create new patterns where their transactions are designed not to be flagged. Like in a game of chess, the advantage goes to the side that thinks the most moves ahead.

FinCEN has issued substantial new AML requirements focused on a major expansion of Know Your Customer into what is now Customer Due Diligence, CDD. The requirements go far beyond the basic knowledge of the Customer Legal Entity to the Beneficial Owner of that entity and its Controlling Persons. The requirements force the bank to focus beyond the initial customer acceptance step, requiring updating and ongoing monitoring against baseline "normal" activity for the customer type.

​The material in this valuable program is based on research and actual investigations. Mr. George spent over twenty years in Miami assisting retail banks. The instructor describes common laundering techniques and the bank policies and procedures that are needed to respond to these threats.

This timely, two hour CPE training event is designed for the internal auditor, compliance professional and others who wish to improve their AML and BSA tradecraft skills.

Each attendee will receive 2 CPE Hours (YB). A certificate of completion will be provided.

Learn everything needed to help prevent money laundering and provide basic compliance with the Bank Security Act.

Money laundering and terrorist financing are global challenges, and the prevention of these crimes is a core regulatory area for all banks.

In this event, the attendees will acquire relevant foundational knowledge about money laundering and anti-money laundering (AML) as well as terrorist financing and counter-terrorist financing (CTF).

In addition, the instructor will cover practical concepts to implement AML/BSA measures, including policies and procedures and suspicious activity reports (SAR).

CPE Event Highlights

The event covers why money laundering is one of the primary regulatory concerns for any financial institution. The event will cover:
The regulatory requirements that are in place,
The current state of Customer Due Diligence compliance requirements,
How to design internal controls and compliance processes,
Process to create to detect money laundering attempts,
Managing the Investigating of AML alerts,
Analyzing controls improvement options.

Learning Objectives

Attendees will understand the:
Definition of money laundering
History of money laundering
Red flags of structuring
Red flags of micro-structuring
Red flags of "cuckoo smurfing"
Affects allowing money laundering on the financial institution
Need to communicate with the BSA officer
Red Flags for Identity Theft

Key Issues on the Agenda

The major agenda items within this intense CPE training event are:
Requirements of the Bank Secrecy Act (and related areas of the USA PATRIOT Act)
Customer Due Diligence (CDD)
Know Your Customer (KYC) requirements
Currency Transaction Reports (CTRs) requirements
Suspicious Activity Reports (SARs) requirements
New Customer Due Diligence requirements
Steps specifically required by the regulations
Analytic engines
Current issues and problems
AML and Fraud overlaps
Adaptation by perpetrators
False Positive Problem
Major fraud categories

Your Instructor

Jim J. George

Over 30 years of experience as a consultant and advisor to major banks. He was an associate partner and principal at PriceWaterhouse-Coopers Consulting, IBM Consulting in Bank Risk and Compliance, and Andersen Consulting (now Accenture).

Jim J. George

Contact Us

Please white list the email address johnb@cseminars.com to allow for CCS emails to reach you effectively.

Thanks for submitting!

Corporate Compliance Seminars 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. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

In accordance with the standards of the National Registry of CPE Sponsors, CPE credits are granted based on a 50-minute hour.

National Registry of CPE Sponsors ID #108983

Complaints may also be forwarded to the company principals, David S. Marshall (708-205-2366davem@cseminars.com) and/ or John Blackshire (479-200-4373johnb@cseminars.com)

 

At CCS, we are deeply dedicated to delivering NASBA-sponsored Continuing Professional Education (CPE) training events focusing on vital subjects such as risk management, audit & assurance, internal controls, internal audit, cybersecurity, and compliance. Our educational content is meticulously crafted to be accessible through live webinars and in-person CPE events, custom-tailored to meet the CPE requirements of certifications including CIA, CPA, CISA, CFE, and other professional certifications.

We take immense pride in our pivotal role over the past twenty years of empowering participants to expand their audit expertise and develop a deep understanding of best-practice frameworks and standards established by eminent organizations such as IIA, AICPA, COSO Framework, PCAOB Auditing Standards, NAIC Model Laws, GAO Green Book, GAO Yellow Book, NIST, ISO, CMMC, ACFE, SEC, and IAASB.

Our comprehensive CPE training events provide invaluable insights across a diverse spectrum of topics, encompassing internal auditing, external audits, planning and execution of audits using the PCAOB Auditing Standards, formulation and implementation of effective internal audits, risk identification and evaluation, adherence to accounting and auditing standards, proficient management of business endeavors and projects, ITGCs and application controls, vigilant oversight of vendor and third-party risks, robust cybersecurity initiatives, and the reporting of audit, risk management, and internal control training courses.

Furthermore, we offer our professional attendees the opportunity to engage with our webinar CPE events virtually, featuring live instructors, or to participate in-person at select cities or a location of their choice.

We consider our target audience to include chief audit executives, audit partners in CPA firms, chief compliance officers, audit managers, audit supervisors, external auditors, internal auditors, internal control professionals, quality control professionals, compliance professionals, board members, and other professionals who prioritize continuous improvement and organizational sustainability.

Our CPE events are all based on the professional standards provided by the IIA, AICPA, PCAOB Auditing Standards, SEC, ISACA, ACFE, NAIC regulations, NIST, ISO, CMMC, COSO Framework, GAO Yellow Book, GAO Green Book, U.S. GAAP, IFRS, and IAASB.

The CCS training staff has a broad range of experience in internal auditing, Big 4 auditing, software development and implementation, Big 4 consulting, governmental accounting and auditing, regulatory compliance and professional training.

Our flexibility in delivering content allows us to cater to the diverse needs of our professional audit function, internal control professional and information technology participants, ensuring a truly enriching learning experience for all.

Explore our CPE event offerings and sign up for your first CPE training event today!

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