Overview
This program is an overview of the components of BSA. Starting with risk assessments, the pillars, the core of the program. Your Board will come to understand how extensive nature of BSA and OFAC programs.

Risk Assessments
During the risk assessment Talk, the Board will learn how we analyze risks for financial crimes. The fluid nature of risk assessments and how we change our risk assessments as the financial institution grows, changes technology and geography.

Four Pillars
Our BSA programs include four pillars of the program: Audit, Internal Controls, BSA Officer and Training. These foundational parts of our BSA and OFAC programs set up by the risk assessment then flow to the rest of the BSA and OFAC compliance program.

Customer Identification Program
Effective 10-1-2003, the Customer Identification Program is a foundational piece of any Know Your Customer Program. It is a one-time on the way in identification and verification of our account holders. Your Board will learn about identification and verification of account holders.

Customer Due Diligence
Customer Due Diligence is a program which includes beneficial ownership verification. We ask purpose, source and transactional questions to understand how our account holder plans to use the account. Combined with CIP, CDD is a powerful tool to Know Your Customer.

Currency Transaction Reports
We file both CTRs and SARs in our reporting piece of BSA. The CTR is the oldest piece of BSA work and tracts cash in and cash out over $10,000. This information is gathered by tellers and submitted by the BSA Department takes a great deal of time for our front line staff and BSA Department.

Suspicious Activity Reports
The backbone of BSA, the SAR starts with alerts and then into investigations, then to SAR. It is often a complex and confidential process of identifying suspicious transactions for the financial institution. Learn how this decision making process works and how the financial institution contributes to preventing financial crimes.

Recordkeeping
Two huge pieces of recordkeeping—the monetary instruments and funds transfers. It is an older part of the BSA program and serves as a deterrent to criminals who would prefer their identities to be kept secret. During the Talk, our directors will learn how this works in our BSA program.

Preventing Human Crimes
Our role in the financial institution is to prevent financial crimes. This can encompass many human crimes like human trafficking, human smuggling, elder fraud and more. Our anti-money laundering programs including technology are getting good at generating alerts for this type of activity. Learn more about the financial institution’s role.

Red Flags for Money Laundering
Red Flags for money laundering and many other crimes are issued by FinCEN (US Treasury) and followed by our financial institution to identify crime. Learn some of the basic red flags that we look for and what they mean and what action our institution might take.

Marijuana and Hemp Related Businesses
During this video the cannabis business and all its implications will be covered. What is the risk of adding a MRB or HRB account holder to your institution’s portfolio. What does the financial institution have to do or know? Learn more.

Cybercrime
During this video the cannabis business and all its implications will be covered. What is the risk of adding a MRB or HRB account holder to your institution’s portfolio. What does the financial institution have to do or know? Learn more.

Cryptocurrency
Now that we have an executive order and an action plan to develop a centralized digital bank, what should we be doing and what will this stream of money look like down the road? During this program we will look at management’s choices today in the journey to digital.

Information Sharing 314(a) and 314(b)
Now that we have an executive order and an action plan to develop a centralized digital bank, what should we be doing and what will this stream of money look like down the road? During this program we will look at management’s choices today in the journey to digital.

Professional Money Laundering Mules
During this video learn about how professional money mules operate. This is not the person who perpetuates the crime, but the person who moves money for the criminal. We will cover how these individuals and organizations operate and the impact they have on our financial institution.

Governance
Learn how BSA is governed from the government and how we have to govern BSA. Governance is formatted differently at different institutions but still has to have a commitment from management, the Board and the staff to work properly. Learn more about the process of running the BSA program.

Countering Proliferation Financing
Whether it’s a circuit for a component of a weapon of mass destruction or whether it’s a crime that supports weapons of mass destruction, these all come under proliferation financing and how we prevent it. Learn more about financing of weapons of mass destruction and the role of financial institutions.

Countering the Financing of Terrorism
Terrorism financing is still a problem in the US. Many funds are moved to charities that underwrite terrorism. These funds move through wires, money service businesses and often are in small amounts and are difficult to detect.

Culture of Compliance
What does the US Treasury say about a “culture of compliance”? Learn more about how we as financial institution’s management create that culture and continue to give BSA and OFAC the respect that the programs deserve.

OFAC
While not a BSA program, it is a program in the BSA Exam Manual. It is often examined at the same time as BSA but OFAC has higher fines and penalties. The OFAC program comes out of the US Treasury and comes from executive orders issued by the President over various administrations. We as a financial institution do not do business with those on the OFAC lists.