Overview: 

During this program we will cover the key foundational sections of the Bank Secrecy Act.  From CIP and CDD to Beneficial ownership, your journey will hit the changes pending as well as the same core elements that form a good program to prevent money laundering.  Your staff will have some training on the crimes that are important in 2021 and increasing risk in the world.  Update your staff on the new AML 2020 law passed and OFAC changes.  Fresh new information on BSA and OFAC for your staff.

What will be covered:

-Know Your Customer Programs—CIP and CDD

-Beneficial ownership issues

-New rules on CTRs and CTR changes that are pending on business accounts

-COVID Red Flags for Money Laundering

-PPP Loan Red Flags

-Referring suspicious behavior to your BSA officer

-What happens when your customer asks you not to file a CTR? Bribes you?

-What can you say and how do you say it on inquiries about CTRs?

-Travel Rule and Monetary Instruments recordkeeping

-Funneling, Cash Deposits, Micro structuring

-Money mules

-New AML Act implications

CTR
 Currency Transaction Reporting
 SAR
 Suspicious Activity Reporting
 OFAC
 Operations
 Beneficial Ownership