BSA/AML Recent Developments and Compliance
Instructor:
Jim George
Product ID: 703457
Training Level: Intermediate
- Duration: 90 Min
Why Should You Attend:
The Bank Secrecy Act of 1970 as amended under Title III of the Patriot Act was the initial and still is the guiding legislative framework to aid in the reduction of money laundering. The BSA as amended is the governing act, and it affects not just US based persons and institutions but also many international transactions with anchors to the US. The reach of the Act also goes far beyond the banking and finance industries.
Hundreds of business have been fined or shuttered for money laundering not just in the financial services area - anyone with a financial institution covered by BSA/AML laws and requirements, banks, brokerages, fund managers and administrators, insurance companies, real-estate agents as well as CFOs and Treasurers have been penalized. The BSA also applies to any dealer in high value items such as fine art and vehicles, too. Now that regulators have a good idea on how to work with banks they are expanding their compliance forays into many new businesses.
This webinar will discuss the recent development in BSA and how to ensure AML compliance.
Areas Covered in the Webinar:
- BSA and amendments and interpretation basis
- Foundation for what is money laundering
- Forms - CTR, Money Log, and SARs
- FINCEN Announcements
- Common compliance issues
- Solutions to common compliance issues
- No such things as enterprise solutions
- Recent regulators action and seeing how those fined got it wrong
- The role of the independent auditor
- The importance of authenticity and the distributed management model
Who Will Benefit:
- Compliance Consultants
- Risk Managers
- Any Branch or OSJ Manager
- Lawyers
- Accountants in the Financial Field
- Members of Audit Committee and Risk Committees
- Regulators
- Securities Broker Dealers
- Art, Car, Boat and Aircraft Dealers
- Financial Professionals is all Disciplines
Jim George
Independent consultant, George Consulting LLC
Jim George is an independent consultant to banks focusing on issues of fraud. He has over 25 years’ experience as a consultant to major banks in associate partner and principal roles at PriceWaterhouse-Coopers Consulting, IBM Consulting in Bank Risk and Compliance, and Andersen Consulting (now Accenture). He has also been SVP Operations for a Fortis-US division providing outsourcing services to the banking industry.
His work includes projects in fraud investigation, fraud prevention, identity issues, compliance, and AML (anti-money laundering). Mr. George’s background also includes work in bank operations and payments strategy, reengineering, systems, and quality improvement.
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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).
