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

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

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.

Follow us :