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Wisconsin Credit Union Foundation

BSA Special Risks: Policy, Law Enforcement & Regulator Issues

This webinar will review what’s old, what’s new, and what’s to come. It will highlight hot issues and provide key take-aways that will strengthen your BSA/AML program.

Nov 21, 2019 02:00 PM   -­­  Nov 21, 2019 03:30 PM
CT
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Type of Event
On Demand Webinar

Who Should Attend
  • On-Demand Webinars
  • Member Service
  • Live Webinars
  • ii Releases
  • Compliance

Register

Description

Will your BSA/AML program pass the next exam? BSA/AML programs must be constantly updated because of the evolving threats of money laundering, financial crimes, and regulatory changes. What should you know about issues ranging from beneficial ownership to marijuana-related businesses? This webinar will review what’s old, what’s new, and what’s to come. It will highlight hot issues and provide key take-aways that will strengthen your BSA/AML program.

Learning Objectives

  • Hot issues
    • Marijuana banking – FinCEN guidance and policy development
    • Cybersecurity threats and fraud risks – FinCEN guidance and detection
    • Elder financial exploitation – tips for detection and SAR requirements
    • August 2019 FinCEN advisory on trafficking Fentanyl and Synthetic Opioids (FIN-2019-A006)
  • Enforcement actions – failure to implement risk-driven compliance, untimely SAR filings, inaccurate CTRs, and more
  • CDD and beneficial owners – are you prepared for the next exam?
  • Monitoring for high-risk activities – identification and risk mitigation steps
  • SARs and detecting red flags – new fields and best practices for effective monitoring
  • Inadequate testing and monitoring systems – regulators’ expectations for automated and manual approaches
  • Challenges of banking money services businesses
  • Privately-owned ATMs – definitions, Independent Sales Organization relationships, and best practices
  • Cryptocurrency – FinCEN guidance and special issues

Speaker

Susan Costonis, Compliance Consulting and Training for FIs

Investment

$259.00