Description
Understand the key antimoney laundering requirements and make sure you stay compliant. This course will cover the basic framework for antimoney laundering compliance under the Bank Secrecy Act. You will gain an understanding of the key requirements for financial institutions and learn about the role of line of business employees in the institution’s overall antimoney laundering compliance function. The topic will also provide an overview of some of the most recent policy developments in this space.
Date: 2024-12-17 Start Time: End Time:
Learning Objectives
BSA/AML Background
• The Bank Secrecy Act
• The Anti-Money Laundering Act of 2020 and the Corporate Transparency Act
Overview • Elements of Customer Due Diligence
• Customer Identification and Verification
• Risk Assessment
• Customer Monitoring
• Recordkeeping and Retention
Customer Identification and Verification
• The Customer Identification Program (CIP) Rule
• Customer Due Diligence/Beneficial Ownership Rule
• Customer Risk Profiling
• Enhanced Customer Due Diligence
Risk Assessment
• Customer Profile
• Customer Contact Channel
• Country/Geographic Region
• Product/Service
• Transaction Type
• External Risk
Customer Monitoring
• Risk-Based Monitoring
• Suspicious Activity Reports
Recordkeeping and Retention
• Record Retention Requirements
Other Issues
• Technology (Artificial Intelligence and Machine Learning)
Jules Carter-Moore & Van Allen PLLC
