Are you on the frontline? Those who are literally on the frontline of the financial industry are the first line of defense against money laundering and terrorist activities. It’s an important job! Join us to learn the Bank Secrecy Act’s specific requirements for the frontline and all the compliance-driven details that auditors and examiners care about.
- Identify the BSA requirements specific to your areas of responsibility
- Explain why certain information is required to set up an account and the due diligence collection and retention of that information
- Describe the characteristics of money laundering
- Identify suspicious activities
- Define common patterns of suspicious activity, including smurfing, structuring, money mules, account takeover, and more
- Distinguish between identity theft and synthetic identity• Understand the identification, recordkeeping, and reporting requirements for CTRs,SARs, and other BSA-related issues
BSA compliance remains one of the hottest topics for examiners and auditors. Frontline
staff are considered the first tier in identifying, preventing, and mitigating potential money
laundering and terrorist financing activities.
Learn the specific
requirements of their job duties related directly to BSA/AML and anti-terrorist financing
compliance. From opening accounts, due diligence, and recognizing when enhanced due
diligence may be necessary, to red flags for account opening and transactions, this
webinar will teach staff their responsibilities. It will address the reasons behind the tasks
they are asked to do and, most importantly, provide useful tools and red flag takeaways
to help them do it. FinCEN guidance on human trafficking, unemployment insurance fraud,
and other COVID-19-related red flags highlight the need to keep abreast of recent
developments, frauds, and money-laundering techniques and trends. This could be the
most important training your frontline receives all year!
Mary-Lou Heighes, Compliance Plus, Inc.
Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has assisted financial institutions with the development of compliance programs since 2000. She provides compliance training for trade associations and financial institutions. Mary-Lou has been an instructor at regulatory compliance schools, conducts dozens of webinars, and speaks at numerous conferences throughout the country.
Involved with financial institutions since 1989, Mary-Lou has over 25 years’ compliance experience. Before starting Compliance Plus in 2000, she spent five years working as a loan officer, marketer, and collector. She also worked at a state trade association for seven years providing compliance assistance and advising on state and federal legislative issues that affect financial institutions.