Thursday
Feb 17
2022

High-Risk Cash-Intensive Businesses: Managing & Monitoring

Registration Options & Pricing

Please select your membership status.


Live Webinar Access Includes:

  • Unlimited Connections to Virtually Attend the Live Webinar
  • Handout & Take-Away Toolkit
  • Available on Desktop, Mobile & Tablet
  • Presenter’s Contact Info for Follow-Up

On-Demand Access Includes:

  • Unlimited Access to Webinar Recording
  • Can be viewed anytime 24/7, beginning 2 business days after the webinar
  • Handout and Take-Away Toolkit
  • Available on Desktop, Mobile & Tablet
  • Free Digital Download, yours to keep
  • Share link with anyone at your credit union
  • Presenter’s contact info for follow-up
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This is a 90-minute webinar.

10:00 am – 11:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET

The number of high-risk, cash-intensive businesses is growing. But how do you identify and monitor these depositors in a way that keeps your institution out of regulatory trouble? Learn to successfully navigate the regulations surrounding MSBs, MRBs, CBD-related businesses, and more in this timely session.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

  • Define cash-intensive businesses in policies and procedures
  • Develop internal controls to protect against money laundering and fraud
  • Use provided tools and resources to develop a comprehensive due diligence process at account opening
  • Establish monitoring procedures to identify potentially suspicious activity
  • File accurate SARs for emerging areas of fraud

WEBINAR DETAILS

Cash-intensive businesses span a wide variety of industries, which can make it more difficult to identify potentially unusual activities that would be considered high risk. The risks to your institution can increase if you have not properly identified the business or the source of deposited funds, or appropriately monitored the changes in account activity. Money service businesses, private ATMs, marijuana-related businesses, and industrial hemp/CBD-related businesses present even more risk.

This session will address how to mitigate these risks and safely keep your doors open to cash-intensive businesses. It will detail the required policies and procedures you should have in place to identify cash-intensive businesses at account opening and conduct appropriate due diligence to ensure proper understanding of the accountholder’s normal activity. It will also cover red flags that should be incorporated into your monitoring process to identify potentially suspicious activity and take appropriate action.

Attendance certificate provided to self-report CE credits.

WHO SHOULD ATTEND?

This informative session is designed for branch managers, BSA/AML officers, compliance officers, and security officers.

TAKE-AWAY TOOLKIT

  • New account due diligence form
  • Business account questionnaire
  • PDF copy of the slides
  • Employee training log
  • Interactive quiz

DON'T MISS THIS RELATED WEBINAR!

"The Impact of Evolving Marijuana Laws on Your Institution"
Wednesday, February 2, 2022

 

NOTE:  All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.

MEET THE PRESENTER

Brode Consulting Services, Inc.
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