Program Description:
The USA PATRIOT Act has applications in almost all
areas of the financial world. In this AIB course
students will learn the key aspects of the Act and what
is needed to implement its provisions. Student
will also learn how this Act affects the sharing of
certain types of information between financial
institutions and law enforcement officials to identify
transactions that may involve terrorist activity or
money laundering.
After successfully completing this course, the student will be able to:
- Describe the purpose of the USA PATRIOT Act
- Describe the types of accounts that pose the greatest risk to the bank for potential use by terrorists or those who fund terrorist activities
- Explain the required procedures for at risk accounts
- Describe the records that the bank must maintain regarding foreign correspondent and private banking accounts
- Explain how to respond to requests for information from FinCEN
- Describe the process for sharing information with other financial institutions
Who Should Attend:
Bank personnel with deposit function responsibilities.
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