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Beneficial Ownership Rules for Business Accounts & Loans

Jul 29 2:00 PM - Jul 29, 2020 3:30 PM
Jul 29, 2020 2:00 PM - 3:30 PM

Do you know the right beneficial ownership questions to ask for business accounts and loans? Do your lenders know when a SAR is required? Could a BSA examiner find loan fraud that has gone undetected by your institution’s due diligence process? Join us to learn five important reasons why BSA training must be provided for lenders who open business accounts and loans.

Learning Objectives

  • Create a risk-based profile for business accounts and loans by asking the right due diligence questions
  • Understand the impacts of regulatory guidance in response to COVID-19
  • Identify six types of lending-related reasons for suspicious activity that require a suspicious activity report (SAR)
  • Explain beneficial ownership requirements to business loan applicants
  • Identify BSA red flags and risks for money laundering in lending

BSA examiners are digging deeper during exams and have begun to ask more questions about the lending function. Could a BSA examiner find loan fraud that has gone undetected by your institution’s due diligence process? Is there a system for identifying false statements and attempts at identity theft on business loan applications? Do your lenders know that these activities may require filing a SAR? Is beneficial ownership effectively documented? This webinar will address those questions and provide five important reasons that BSA training must be provided for lenders who open business accounts and loans.

Agenda

Speakers

Susan Costonis, CRCM, Compliance Consulting and Training for Financial Institutions

Susan Costonis is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training. Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998,completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.

Location

Fees

$259.00

Live and recorded webinar, handouts, quiz with answer key and training log are included.

Your registration includes access from up to three locations, making it easier to share and learn with remote staff during the coronavirus crisis. Training materials will be available to download the day of the event.

Additional Info

Event Type

Webinar

Topics Covered

  • Live Webinars
  • Lending & Collections