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BSA for Volunteers set for August 22

Fri, Jun 26, 2015

Columbia, Maryland

Andre Lucas, Compliance Director of the MD|DC Credit Union Association, will present a half-day of Bank Secrecy Act training on Saturday, August 22, for credit union volunteers.    The session is scheduled for 9 a.m. to noon at the MD|DC CUA’s office, 8975 Guilford Road, Suite 190, Columbia, MD 21046.

During this session, credit union volunteers will:

  • Understand the importance of the BSA risk assessment
  • Discuss various emerging money laundering risks
  • Learn BSA reporting requirements, recordkeeping requirements and written program requirements
  • Learn what is required in the Customer Identification Program (CIP)
  • Understand Currency Transaction Reports (CTRs), Suspicious Activity Reports (SARs) and what staff must do to comply with reporting requirements
  • Review three stages of money laundering, and red flags
  • Understand why the BSA is important to the credit union and its regulators
  • Understand the role of the board in providing oversight, and assuring compliance

This half-day session costs $180 for credit unions with >$50M in assets, $90 for credit unions with <$50M in assets and $45 for credit unions with <$10M in assets.      The Credit Union Foundation of MD & DC offers educational reimbursement to credit unions with up to $150M in assets.   

Go to BSA for Volunteers for more information and to register.