Anti-Money Laundering Act: Update & Lessons Learned

Compliance Frontline & New Accounts Lending Operations Security & Fraud Senior Management

On-Demand Webinar

StreamedJan 31, 2023Duration90 minutes

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

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Learn how to evaluate your institution's compliance with the AML Act provisions already in place and plan for those coming down the pike.

This session will address the impact on policies, risk assessments, monitoring procedures, and training programs, as well as provide tools and examples to successfully navigate the changes.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Identify the purpose of the AML Act and its impact on your BSA program
Incorporate the eight AML/CFT priorities into your BSA/AML risk assessment and red flag monitoring programs
Explain FinCEN’s 2022 final rule to implement beneficial ownership information reporting
Understand FinCEN’s frameworks to facilitate information sharing among financial institutions and their service providers, regulators, law enforcement, and others
Detail how virtual currency is considered in regulatory definitions and red flags you should know
Prepare for changes being proposed to CTR and SAR reporting, including to thresholds and required fields
Use the information and tools provided to inform your management and board of current and future changes

WEBINAR DETAILS

It’s been three years since the Anti-Money Laundering Act of 2020 (AML Act) became effective. While there have been a number of notices, advisories, reports, and rulemakings, there are many key components, which may result in additional regulation. Passage of the AML Act has already set in motion a number of issues that will impact your risk-based BSA program and potentially change recordkeeping and reporting requirements. From risk assessments to beneficial ownership to CTRs and SARs – you need to be prepared for changes big and small.

WHO SHOULD ATTEND?

This informative session is designed for BSA officers, compliance officers, security officers, and anyone responsible for managing your BSA/AML program.

TAKE-AWAY TOOLKIT

AML Act implementation plan
Sample BSA/AML risk assessment updated for the AML Act
Beneficial ownership final rule fact sheet
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.