AML/BSA Overview, Compliance, and Current Issues, including new CDD Requirements

Speaker

Instructor: Jim George
Product ID: 705827

Location
  • Duration: 60 Min
This BSA/AML webinar will discuss various compliance requirements for AML - KYC, CTRs, SARs, new customer due-diligence process and various strategies which money launderers are using now and how to detect and thwart it.
RECORDED TRAINING
Last Recorded Date: Oct-2021

 

$229.00
1 Person Unlimited viewing for 6 month info Recorded Link and Ref. material will be available in My CO Section
(For multiple locations contact Customer Care)

$349.00
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)

 

 

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Why Should You Attend:

Money laundering continues to be a national concern. High levels of drug-related activity and violence have drawn additional attention. Terrorist activities need to be considered as well. Perpetrators have adapted to banks’ efforts so 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. It goes far beyond knowledge of the Customer Legal Entity to the Beneficial Owner of that entity and its Controlling Persons. It is focused beyond the initial customer acceptance step, requiring updating and ongoing monitoring against baseline “normal” activity for the customer type.

Attend this webinar to understand How to Comply with regulatory requirements, What Designing controls to put in place and improvement, how to Detecting money laundering attempts, how to investigate after an AML alert, what new strategies are now adopted by Monday launderers and what process to adopt to understand new strategies.

Learning Objectives:

This webinar will provide valuable assistance to all personnel with AML responsibilities in banks or other financial institutions:

  • Compliance with regulatory requirements
  • Specifically, new compliance requirements related to Customer Due Diligence
  • Designing controls and compliance
  • Detecting money laundering attempts
  • Managing the Investigating of AML alerts
  • Analyzing controls improvement options
  • Understanding money launderers’ strategies and techniques

Areas Covered in the Webinar:

  • Requirements of the Bank Secrecy Act (and related areas of the USA PATRIOT Act)
    • Customer Due Diligence (CDD) in depth , as it is the newest regs.
    • Know Your Customer (KYC) requirements
    • Currency Transaction Reports (CTRs) requirements
    • Suspicious Activity Reports (SARs) requirements
    • New Customer Due Diligence requirements
    • Steps are specifically required by the regulations
    • Analytic engines
  • Current issues and problems
    • AML and Fraud overlaps
    • Adaptation by perpetrators
    • False Positive Problem
  • Money Laundering Strategies and Techniques

Who Will Benefit:

Professionals in Banking, Credit Unions, Financial Services Companies, and Compliance and AML areas.

  • VPs
  • Managers
  • Directors
  • Supervisor Levels
Instructor Profile:
Jim George

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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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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