Basics of The Bank Secrecy Act
About this event
The “Bank Secrecy Act” or “BSA” requires U.S. financial institutions to assist U.S. government agencies to detect and prevent money laundering. This session will outline the Basics of BSA, what it means to financial institutions and how to apply the processes behind BSA to ensure compliance. Included are details of The Five Requirements of the Bank Secrecy Act (1) Establish BSA Compliance Program (2) Effective Due Diligence and Monitoring (3) Screening (OFAC) (4) Effective Suspicious Activity Monitoring and Reporting Process (5) Develop Risk Based AML Programs
Why Should You Attend?Discussion will include details on how the act requires financial institutions to keep records of cash purchases of negotiable instruments and file reports of cash transactions exceeding $10,000 (daily aggregate amount), including reporting suspicious activity that might signify money laundering, tax evasion, or other criminal activities. Details will reference what it means to you with regards to The Bank Secrecy Act being sometimes referred to as an anti-money laundering law (AML) or jointly as BSA/AML and how provisions within Title III of the USA Patriot Act of 2001 regarding AML have been enacted to amend the Bank Secrecy Act.
Areas Covered in the Webinar:
- Due Diligence Process for Customers
- Customer Identification Program (CIP)
- Transaction Reporting
- Suspicious Activity Reporting (SAR)
- Information Sharing
- Screening Details (OFAC)
- Training, Testing and Record Retention
- PLUS – Related News and Issuance from the OCC (Office of the Comptroller of the Currency) — Bulletins issued in 2021
Who Will Benefit:
- Bank operations staff
- Risk, Compliance and Audit personnel
- Bank managers and payment professionals
- CEO’s and CFO’s
Instructor Profile:Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ experience. She has designed and facilitated over 150 training sessions each year with her expertise being the rules for companies and financial institutions when processing electronic (specifically ACH) payments, then scheduling the events to facilitate/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences). Ms. Olheiser is also an experienced project manager managing education programs for organizations per their requests on processing electronic payments while developing personalized training programs for financial institutions. She has over 23 years of experience in the financial services industry which includes 9 years’ experience as the education service director at a Regional Payments Association (RPA), where she managed and facilitated the entire education program for nearly 800 financial institution members. Prior to that, Ms. Olheiser spent 14 years in various departments with the Federal Reserve Bank of Minneapolis and also holds the Accredited ACH Professional (AAP) designation (achieved in 2004). Her extensive knowledge, enthusiasm, and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Ms. Olheiser’s ability to engage the learner through the entire training event helps the adult learner apply what they’ve learned during and after each training session.
Register Now!Use Code – “GET10” and get a 10% discount!
Refund Policy:Attendees may cancel up to two working days prior to the course start date and the refund will be processed within two working days. GRCAdvisoryOnline will process/provide refund if the Live Webinar has been cancelled. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange. Webinar may be cancelled due to lack of enrolment or unavoidable factors. Attendees will be notified 24 hours in advance if a cancellation occurs. Substitutions can happen any time. If you have any concern about the content of the webinar and not satisfied please contact us at below email or by call mentioning your feedback for resolution of the matter. Please leave your name and number for a call back. We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email [email protected] or call +1-833-827-3272 (Toll Free).
Donna K Olheiser