BSA Compliance for Commercial Accounts: Beneficial Ownership & Beyond
StreamedMay 3, 2022Duration90 minutes
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- Unlimited & shareable access starting
two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
Commercial accounts require special and ongoing attention – especially in the BSA realm.
Does your program satisfy all the CDD and beneficial ownership requirements for business accounts? Do you know what’s on the horizon? Don’t get caught short during your next BSA exam.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Discuss this overview of BSA laws and penalties
- Manage due diligence requirements
- Identify and track beneficial ownership
- Understand FinCEN’s proposed beneficial ownership reporting rule
- Employ available BSA resources
Commercial services offer many unique opportunities. From increased community involvement to increased fee income, there’s potential to make a positive impact on the community and bottom line. But with massive penalties being imposed for BSA violations, now is not the time to conduct business as usual. Gone are the days when proper account access was your only concern. Heightened customer due diligence requirements, combined with increased regulatory focus on business accounts used in criminal activity, have dramatically changed BSA obligations.
Bank Secrecy Act compliance continues to be a high regulatory examination target and one that should receive extensive time and attention. The Financial Crimes Enforcement Network (FinCEN) has even proposed a new rule to further focus on commercial accounts and limit their use in hiding nefarious activity. Do you understand the potential impact to your institution? This webinar will review the entire business account process from account opening and monitoring to beneficial ownership, and will highlight the potential landmines.
WHO SHOULD ATTEND?
This informative session is designed for BSA officers, senior executives, directors, Supervisory Committee members, compliance personnel, audit staff, security officers, and anyone involved with the BSA program.
- Beneficial ownership checklist
- Key regulatory guidance
- Examination guidance
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
David A. Reed
Reed & Jolly, PLLC
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