Financial Industry Essentials Module 7: Intro to BSA: Laying the Foundation
The Bank Secrecy Act (BSA) was passed to assist law enforcement in fighting money laundering in the United States.
The BSA requires financial institutions to maintain records and file reports regarding currency transactions, funds transfers, and monetary instruments. BSA impacts all areas of your institution from the frontline to operations, to the loan department, and even the board of directors. This session will explain the BSA basics and include an overview of the five BSA pillars, the three steps of money laundering, and best practices for identifying and reporting potential suspicious activity to your institution’s BSA officer.
Approximately 30 minutes
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.
Brode Consulting Services, Inc.
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