BSA for Lenders

Lenders are often the first line of defense in identifying and reporting suspicious activity. Still, the transaction types and methods for originating a new loan are often very different from the types of transactions and account opening methods used for deposit accounts. Therefore, it’s crucial that lending staff receive tailored initial and annual training on BSA/AML requirements and fully understand what is expected during their day-to-day duties. This session will detail BSA/AML rule components, including red flags for mortgage and commercial loan fraud, CIP documentation, CDD rules (including documenting beneficial ownership), OFAC screening, CTR completion, and much more!