Monitoring High Risk Transactions

Dec 8, 2020 - 01:00 PM EDT
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This BSA/AML (Bank Secrecy Act/ Anti Money Laundering) compliance training will help attendees understand, identify and mitigate the risks associated with high risk transactions.    As a compliance and BSA officer, Doug Keipper was tasked with training his bank on all regulations. This course was developed from conversations with FBI, Department of Homeland Security, Banking Regulators and the Financial Task Force of the DEA.

 Reasons to Attend:

An effective BSA/AML compliance program controls risks associated with the institution’s products, services, customers, entities, and geographic locations; therefore, en effective risk assessment should be an ongoing process, not a one-time exercise. Monitoring your risks includes monitoring your transactions, especially your high risk transactions.

Per the FFIEC Manual: The development of the BSA/AML risk assessment generally involves two steps: first, identify the specific risk categories (i.e., products, services, customers, entities, transactions, and geographic locations) unique to the institution: and second, conduct a more detailed analysis of the data identified to better assess the risk within these categories.

Several examples of a system of internal controls will help you document your monitoring program.

 Areas Covered:

  • Resources.
  • Accessing the data: What are the obstacles? Core system, teller system, BSA monitoring program, etc.
  • How did the activity occur? In person, telephone, internet, wire, ATM, or ACH.
  • Sample risk assessment for products and services.
  • Systems of internal controls.
  • Managing Non Resident Aliens.
  • Documenting and Monitoring a Cash In and Cash Out Report.

 Target Audience:

  • Bank and credit union compliance officers. 
  • Bank Secrecy Act (BSA) Officers.    Many times you will see BSA/AML officer titles.  AML = Anti-Money Laundering
  • BSA analysts. 
  • BSA investigators. 
  • CFOs. 
  • Bank or credit union operations officers.

Webinar Events
Attend Live Webinar
Dec 8, 2020 - 01:00 PM EDT

Duration: 60 Minutes

Single Attendee

Group of 3 to 5 +1 Thumb Drive or 5 online Recorded version

Group of 6 to 10 +1 Thumb Drive or 10 online Recorded version

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