Bank Secrecy Act: The Fundamentals - CIP, CDD, EDD, CTR and Fraud Ring Example


Instructor: Kara Lamphere
Product ID: 705351

  • Duration: 90 Min
The Bank Secrecy Act (BSA) imposes a robust set of requirements on various industries to include banking organizations, mortgage lenders, gambling institutions, insurance agencies, and more. The main goal of the BSA is to help the government detect and prevent money laundering as well as terrorist financing. From this main goal, the rule requires reporting of various transaction types both individually and in the aggregate and reporting of suspicious activities. This webinar will help understand the fundamental requirements of the BSA/AML statutes and the annual AML training requirements.
Last Recorded Date: Aug-2017


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Why Should You Attend:

The Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) rules cover an in-depth set of requirements across several industries. The scoping and planning of an examination process is guided by the examiner’s review of the BSA/AML risk assessment. Information gained from the examiner’s review of the risk assessment drives the scoping and planning process as well as the evaluation of the adequacy of the BSA/AML compliance program.

From the basis of a risk assessment comes the additional requirements of Customer Identification Program, Customer Due Diligence, and Anti-Money Laundering. In addition to these risk-based requirements within the BSA/AML statutes are the requirements to file Currency Transaction Reports and recording of the Purchase/Sale of Monetary Instruments.

This webinar will explain these fundamentals of the BSA/AML requirements from risk assessments and evaluation compliance program to the reporting requirements at the transaction level. It will further go through an example of an AML fraud ring and identification of red flags within a BSA/AML program. It will also provide the fundamentals of completing risk assessment and making it a useful tool.

Areas Covered in the Webinar:

  • Customer Identification Program
  • Customer Due Diligence and Enhanced Due Diligence
  • Anti-Money Laundering Monitoring and Fraud Ring Example
  • Risk Assessment
  • Currency Transaction Reporting
  • Purchase/Sale of Monetary Instruments

Who Will Benefit:

  • Compliance/Legal Departments
  • Operations
  • Frontline Personnel
  • Internal Audit Departments
  • Chief Compliance Officers
  • Compliance Officers
  • Operations Personnel
  • Frontline Personnel
  • Branch Managers
Instructor Profile:
Kara Lamphere

Kara Lamphere
Chief Compliance Officer and Director, Mid America Mortgage

Kara Lamphere currently manages a correspondent lending division and a compliance program. During her 20+ year career, the largest area of focus has been as chief compliance officer. However, her extensive experience includes operations, quality control, and audit. Ms. Lamphere has an enduring passion for team building, mentoring, communication, and finding simple effective solutions to complex problems.

With a Bachelor’s Degree in Accounting and a Certified Internal Auditor license, her experience has been predominately in financial services with a short stint in public accounting. The roles within her experience have been a chief compliance officer for two organizations, senior vice president of a $1 billion per month mortgage lender and various roles within banking institutions.

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Refund Policy

Our refund policy is governed by individual products and services refund policy mentioned against each of offerings. However in absence of specific refund policy of an offering below refund policy will be effective.
Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange. Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time. On-Demand Recording purchases will not be refunded as it is available for immediate streaming. However if you are not able to view the webinar or you have any concern about the content of the webinar please contact us at below email or by call mentioning your feedback for resolution of the matter. We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email [email protected] call +1-888-717-2436 (Toll Free).




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