BSA/AML Fundamentals Bootcamp
The BSA/AML Fundamentals Bootcamp provides the framework for understanding the BSA team’s roles and responsibilities for BSA/AML and OFAC compliance. The financial industry is required to take an increased leading role in the prevention of money laundering and potential terrorist funding. Compliance with the Bank Secrecy Act (BSA) continues to be a top priority with the regulators. One major requirement of BSA is to designate a BSA/AML Officer and to ensure that the BSA Officer and the BSA Team are well trained and qualified to carry out the duties of this critical position. BSA is an on-going, ever-changing “safety and soundness” issue. This workshop will provide current, updated tools, techniques, and “real world” practice and examples for learning the critical components of a BSA/AML program. We will review the basic BSA regulatory framework and provide you with an understanding of the BSA, OFAC, and core recordkeeping requirements. During the Bootcamp, the attendees will utilize the FFIEC BSA/AML Examination Manual and 31 CFR Chapter X.
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