Bank Secrecy Act: The Fundamentals - CIP, CDD, EDD, CTR and Current Issues

Event Details

Bank Secrecy Act: The Fundamentals - CIP, CDD, EDD, CTR and Current Issues

Time: September 29, 2020 from 9am to 10am
Location: Online Event
Street: 2600 E. Bayshore Road
City/Town: Palo Alto
Website or Map: https://www.complianceonline.…
Phone: +1-888-717-2436
Event Type: seminar
Organized By: ComplianceOnline
Latest Activity: Sep 21

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Event Description

Why Should You Attend:

Money laundering continues to be a national concern. High levels of drug-related activity and violence have drawn additional attention. Terrorist activities need to be considered as well. Perpetrators have adapted to banks’ efforts so banks cannot combat the money laundering with yesterday’s methods. Software is widely installed to identify specific patterns and “unusual” transactions. But the fraudsters know this and are constantly striving to create new patterns where their transactions are designed not to be flagged. Like in a game of chess, the advantage goes to the side that thinks the most moves ahead.

This webinar will provide valuable assistance to all personnel with AML responsibilities in banks or other financial institutions:

  • Compliance with regulatory requirements
  • Designing controls and compliance
  • Detecting money laundering attempts
  • Managing the Investigating of AML alerts
  • Analyzing controls improvement options
  • Understanding money launderers’ strategies and techniques

Areas Covered in the Webinar:

  • The Bank Secrecy and USA PATRIOT Acts
  • Know Your Customer (KYC)
  • Currency Transaction Reports (CTRs)
  • Suspicious Activity Reports (SARs)
  • New Customer Due Diligence requirements
  • Steps are specifically required by the regulations
  • Analytic engines
  • AML and Fraud overlaps
  • Adaptation by perpetrators
  • False Positive Problem
  • The New Customer Due Diligence requirements
    • Three covered entity types
    • Customer legal entity
    • Beneficial owners
    • Controlling persons
    • Exclusions
    • New Requirements
      • Risk profiles
      • Updating
      • Baseline/normal transactions
      • Transaction monitoring
    • Money Laundering Strategies and Techniques

    Who Will Benefit:

    • Compliance/Legal Departments
    • Operations
    • Frontline Personnel
    • Internal Audit Departments
    • Chief Compliance Officers
    • Compliance Officers
    • Operations Personnel
    • Frontline Personnel
    • Branch Managers
    • Fraud
    • Compliance and AML areas.
    • VP
    • Manager
    • Director
    • Supervisor levels

For more info:https://www.complianceonline.com/bank-secrecy-act-fundamentals-cip-cdd-edd-ctr-and-aml-responsibilities-webinar-training-705521-prdw?channel=globalriskcommunity

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