BSA Officer Part 1: BSA Update for BSA Officers

As your institution’s BSA/AML officer you are responsible for managing effective dates and timelines that change in an instant, updating policies and procedures to reflect new requirements, pushing information out to staff members, monitoring accountholder transactions for anything suspicious, and staying informed about the next change, advisory, or guidance issued.

This session will address current and pending BSA regulatory issues that bring the highest risk and are most often cited by examiners. This includes beneficial ownership, risk rating accountholders, and SAR reporting guidance from FinCEN. In addition, the program will focus on high-risk BSA topics, including CIP for POAs and other fiduciary relationships, reporting incidents of elder financial exploitation and check fraud, cannabis business activities, and cryptocurrency scams. It will also cover the rules for accessing FinCEN's beneficial ownership database and updating new account procedures.