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Anti-Money Laundering Act: Update & Lessons Learned

Jan 31 2:00 PM - Jan 31, 2023 3:30 PM
Jan 31, 2023 2:00 PM - 3:30 PM
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Learn how to evaluate your institution's compliance with the AML Act provisions already in place and plan for those coming down the pike. This session will address the impact on policies, risk assessments, monitoring procedures, and training programs, as well as provide tools and examples to successfully navigate the changes.

Learning Objectives

  • Identify the purpose of the AML Act and its impact on your BSA program
  • Incorporate the eight AML/CFT priorities into your BSA/AML risk assessment and red flag monitoring programs
  • Explain FinCEN’s 2022 final rule to implement beneficial ownership information reporting
  • Understand FinCEN’s frameworks to facilitate information sharing among financial institutions and their service providers, regulators, law enforcement, and others
  • Detail how virtual currency is considered in regulatory definitions and red flags you should know
  • Prepare for changes being proposed to CTR and SAR reporting, including to thresholds and required fields
  • Use the information and tools provided to inform your management and board of current and future changes

It’s been three years since the Anti-Money Laundering Act of 2020 (AML Act) became effective. While there have been a number of notices, advisories, reports, and rulemakings, there are many key components, which may result in additional regulation. Passage of the AML Act has already set in motion a number of issues that will impact your risk-based BSA program and potentially change recordkeeping and reporting requirements. From risk assessments to beneficial ownership to CTRs and SARs – you need to be prepared for changes big and small. 

Agenda

Speakers

Dawn Kincaid, Brode Consulting Services, Inc.

Dawn Kincaid began her banking career while attending The Ohio State University. She has over 20 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.

Location

Fees

$259.00 

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

Your registration includes unlimited locations, making it easier to share and learn with remote staff.

Please note: You may share the link with others at your credit union, however the confirmation will be sent to one primary contact at your credit union. It will be up to the primary contact to share the material with others.

Additional Info

Event Type

Webinar

Topics Covered

  • Compliance
  • Fraud, Security & Technology
  • Live Webinars