Banking MSBs: BSA/AML Risks, Mitigation of Risks and Rewards


Instructor: Richard Cascarino
Product ID: 705893

  • Duration: 60 Min
In this webinar Banks and Credit Unions (Financial Institutions) will gain a core understanding of the BSA/AML risks, risk mitigation techniques and potential rewards of banking MSBs. This course is designed to assist Financial Institutions in formulating their strategy for banking MSBs, regulatory bodies overseeing MSB compliance, income and expense characteristics in banking MSBs, balance sheet impacts, perceptions and misperceptions of MSBs, risk between MSB entities and how to strengthen your financial institution’s BSA/AML program.
Last Recorded Date: Mar-2022


1 Person Unlimited viewing for 6 month info Recorded Link and Ref. material will be available in My CO Section
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Downloadable file is for usage in one location only. info Downloadable link along with the materials will be emailed within 2 business days
(For multiple locations contact Customer Care)



Customer Care

Fax: +1-650-362-2367

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Read Frequently Asked Questions

Why Should You Attend:

Financial Institutions contemplating expanding or launching banking services for MSBs, or conversely existing the business, will benefit by understanding of the critical information that needs to be considered in the unbiased decision making process. Equipped with the appropriate set of data points, management will be enabled to determine the best strategy for their institution regarding the MSB segment.

Learning Objectives:

  • Understanding the regulatory bodies overseeing MSB compliance as well as the multiple Industry Associations that support their well being
  • How to challenge your institution’s assumptions and views of MSBs
  • Learn the income and expense characteristics of Financial Institutions deploying a “line of Business” methodology in banking MSBs
  • What are the likely balance sheet impacts for Financial Institutions in banking MSBs
  • While all MSBs are generally considered high risk for BSA/AML, gain an understanding of the specific risk rating (low, medium and high) drivers for each individual MSB served
  • Assessing the appropriateness and rigor of an MSB customer’s BSA/AML Program
  • How to address Regulator concerns when electing to launch or expand banking services and relationships with MSBs
  • Learn the keys to strengthening a financial institution’s BSA/AML program in undertaking higher BSA/AML risk customers

Areas Covered in the Webinar:

  • Market challenges facing Financial Institutions within the current BSA/AML de-risking environment
  • Defining MSBs and other higher risk “payments” entities
  • Perceptions and misperceptions of MSBs
  • Treasury / Cash Management products and services that are generally of the highest demand for MSBs
  • Varying levels of risk between MSB entities within the same type of MSB industry
  • Indications that an MSB’s BSA/AML compliance program is or is not a “check the box” regime
  • Primary concerns of regulators with those Financial Institutions expanding services with MSB customers
  • The “investments” financial institutions need to consider in expanding services and relationships with higher BSA/AML risk customers

Who Will Benefit:

  • Compliance Officer
  • BSA Officer
  • BSA/AML Managers
  • Risk Officer
  • Risk Manager
  • Risk Committee Member
  • Internal Auditor
  • Audit Officer and/or Manager
  • Audit Committee Member
  • Financial Officer and/or Manager
  • Controller
  • Accounting Manager
  • Head of Business / Commercial Deposit Products
  • Cash Management Services Officer and/or Manager
  • Treasury Management Services Officer and/or Manager
  • Deposit Products and Services Development Officer and/or Manager
Instructor Profile:
Richard Cascarino

Richard Cascarino
Principal, Richard Cascarino Associates

Richard Cascarino, is the Principal of Richard Cascarino & Associates, a highly successful audit training and consultancy company based in Colorado and Johannesburg. He is a regular speaker at National and International conferences and has presented courses throughout Africa, Europe, the Middle East and the USA. Richard is a Past President of the Institute of Internal Auditors in South Africa and also a member of ISACA and the Association of Certified Fraud Examiners.

Richard was a member of the Audit Committee of the Department of Public Enterprises in South Africa and chairman of the Audit Committee of Gauteng cluster 2 (Premier's office, Shared Services and Health). He is the author of the "Auditor's Guide to IT Auditing" and the newly released “Corporate Fraud and Internal Control: A Framework for Prevention” both published by Wiley Publishing which is also used by universities worldwide.

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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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