Description

Learn about changes to the FFIEC BSA/AML Examination Manual and the areas where banks should review their policies and procedures for compliance.

Course Description

The Federal Financial Institutions Examination Council, early this month (August 2023), released updates to some key sections of the Bank Secrecy Act/Anti-Money Laundering Examination Manual. These updates offer further transparency into the examination process and support risk-focused examination work.

The revised manual provides current guidance on due diligence programs, foreign bank account records, risk-based policies, procedures, and processes for banking organizations to comply with the BSA and safeguard operations from money laundering and terrorist financing.

This webinar will go through every section of the revised FFIEC BSA/AML Examination Manual to highlight changes and areas where banks should review their internal policies, processes, and procedures for compliance. Understanding these changes will keep you prepared and updated for your next BSA/AML examination.

Areas covered

• AML Risk Assessment
• BSA/AML Compliance Program
• Customer Identification Program (CIP)
• Customer Due Diligence/Enhanced Due Diligence (CDD/EDD)
• Suspicious Activity and Currency Transaction Reporting
• Foreign Correspondent Accounts and Recordkeeping
• International Transportation of Currency or Monetary Instruments Reporting (CMIR)
• Bulk Shipments of Currency
• Automated Clearing House (ACH) Transactions and Third-Party Service Providers
• Prepaid Access
• Third-Party Payment Processors
• Embassy, Foreign Consulate, and Foreign Mission Accounts
• Non-Bank Financial Institutions
• Cash Intensive Businesses
• Nongovernmental Organizations and Charities

Who Will Benefit

• BSA/AML Compliance Officers at banks and MSBs
• Front Line BSA/AML Staff
• Internal and Independent Auditors
• Bank and MSB Staff with Roles and Responsibilities in BSA/AML Management and Oversight
• Risk and Compliance Management
• Consultants in the AML/BSA Industry specializing in MSBs

About the Instructor

Doug Keipper is Vice President, BSA/AML Officer at BankSouth.

• Certified Anti-Money Laundering Specialist (CAMS) since 2005
• Bank Secrecy Act Officer for a billion-dollar bank
• Sold BSA software for eight years
• Teaching anti-money laundering classes since 2008
• Has talked with over 500 BSA officers throughout the USA and Caribbean
• Spent over 20 years in retail banking, wholesale mortgages, and financial services

View other webinars of Doug Keipper:
How to Write SAR Narratives for Elder Financial Exploitation

Beneficial Ownership, Customer Due Diligence and The New Rules