Bank Secrecy Act Update

The fact that the Bank Secrecy Act continues to make the list for supervisory examination focus indicates this is an area needing continual review and evaluation. Additionally, amendments to the BSA that are effective in May 2018 may require changes to your credit union's BSA and Customer Identification Programs. This session will address the new requirements under BSA and also highlight areas of concern to examiners.

Covered Topics

  • Customer Due Diligence requirements
  • "Beneficial owner" identification and verification
  • Considerations in serving Money Service Businesses and Marijuana Related Businesses
  • BSA examination issues
  • Recent enforcement actions

Who Should Attend?

Compliance officers, BSA compliance officers, frontline staff and CEOs will benefit from this program.