Implementing Bank Secrecy Act (BSA), Audit & Best Practices

Why Should You Attend:

In recent years, the reports and records prescribed by the BSA have also been utilized as tools for investigating individuals suspected of engaging in illegal drug and terrorist financing activities and other Money Laundering activities.

Money laundering involves the processing of a financial transaction representing the proceeds of unlawful activity in such a manner to conceal the nature, source, or ownership of the proceeds or to avoid a legal requirement to report such a transaction.

This form of fraud differs in many ways from traditional banking fraud since the financial institution is not itself the target; nor are the organization’s customers. Rather it involves the use of the organizational environment and infrastructure to carry out an illegal activity.

Areas Covered in the Webinar:

• Outline, briefly, the constituent parts of the BSA requiring bank compliance
• Define Money Laundering, common and legal identifiers and Red Flags
• Stages of Money Laundering
• Four Pillars of BSA
• Identify Sources of Audit Evidence of IT Laundering
• Explain how the BSA covers evidence gathering
• Internet and Cloud Laundering
• The steps involved in conducting an internal investigation
• Customer Identification Program
• OFAC Checking
• Beneficial Ownership
• The two-prong test
• Customer Due Diligence
• Customer Risk Rating
• Filing Reports

Who Will Benefit:

The webinar is aimed primarily at bankers, bank auditors and forensic auditors who are working with or involved in developing or auditing compliance with the BSA:

• Internal Audit Professionals
• Chief Audit Executives
• IT Management Professionals
• Risk Officers & strategic management members
• Internal control professionals
• Forensic Auditors
• Bank Secrecy Act / Anti-Money Laundering Officers
• Staff with roles and responsibilities in BSA / AML management and oversight
• Financial Officers
• Front Line Staff
• Risk Officers
• Operational Managers

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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