Tue, Jan 9, 2018
Satisfy your annual BSA update training requirements. NCUA and state examiners are committed to enforcing the Bank Secrecy Act (BSA), so complying with the regulation should be a top priority for every credit union. Get the information you need to ensure your training requirements have been met before your examiner walks in the door. André Lucas, Compliance Director for the MD|DC Credit Union Association, will present BSA training for Volunteers on Saturday, March 10, 2018 from 9 am - Noon.
Attendees will take a close look at the requirements of BSA and the Customer Identification Program (CIP); receive an overview of the Office of Foreign Assets Control (OFAC) and the PATRIOT Act; review policy requirements and examples of noncompliance; identify the penalties that regulators could potentially impose on your credit union; review CTR and SAR filing requirements and much more.
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
Bank Secrecy Act (BSA) compliance remains high on the examiner's list for all credit unions, so credit union volunteers need to be familiar with BSA requirements.
MD|DC Credit Union Association
8975 Guilford Road