EVENT:
BSA for the Front Line (Session Code: 644)
The Bank Secrecy Act requires that all frontline personnel be trained on money laundering and the responsibilities of the financial institutions on currency reporting and suspicious activity every year. This seminar is designed to accomplish the training requirements on currency reporting, how to identify suspicious activity, new customer identification procedures and record retrieval on wires and monetary instruments. It is a must for all frontline employees on how the financial institution can be used in criminal activity. Participants will leave more aware of what to look for and what to do if a member appears to be using the financial institution for illegal purposes. The OFAC list will be explained as well as the financial institution’s responsibilities in reviewing this list and identifying potential terrorist activity.
What you will learn:
· Currency Transaction Reports
· How to complete CTR’s
· Common errors on CTR’s
· Who can be exempted from CTR’s
· How to identify suspicious behavior
· What is money laundering and structuring
· Customer identification programs
· The credit union recordkeeping requirements on funds transfers
· OFAC list, what is it and who is on it
· Updated for the USA Patriot Act
Illinois Pricing:
Regular: $ 99.00
Out of State Pricing:
Regular: $
99.00
Contact: Greg Framarin (Illinois Credit Union League)
Phone: 630-983-3420
Fax: 630-983-3212
Email:
gregory.framarin@ilcusys.org