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    ACAMS Pittsburgh Chapter September Virtual Event: BSA Reform – Experts Discuss the NDAA and What it Means for Financial Institutions

    OVERVIEW

    Fifty-one years have passed since President Richard Nixon signed the Bank Secrecy Act (BSA) into law. In that time, the BSA has undergone several amendments. January 1st, 2021 marked the passing of the National Defense Authorization Act (NDAA), a massive defense spending bill that includes the most comprehensive set of BSA reforms since 9/11 with the Patriot Act. But what does this truly mean for financial institutions and their Anti-Money Laundering (AML) and BSA operations? Join this webinar to learn about:  
    • The updated Customer Due Diligence (CDD) rule and new disclosure requirements of ultimate beneficial ownership (UBO) information
    • Streamlining changes to Suspicious Activity Reports (SARS) and Currency Transaction Reporting (CTR) – including the sharing of SARS with foreign affiliates
    • The new whistleblower program incentivizing the reporting of BSA/AML violations
    • The increase in penalties for BSA/AML violations for both companies and individuals
    • The expansion of the BSA’s applicability to antiquities dealers
    • The requirement of studies on topics including the use of technology including Artificial Intelligence in AML, trade-based money laundering, and money laundering by the People’s Republic of China

    Date

    Sep 16 2021

    Time

    ET
    12:00 pm - 1:00 pm

    Cost

    Free
    ACAMS

    Organizer

    ACAMS
    Website
    https://www.acams.org/en
    Register

    Speakers