Program Description:
Virtually no rules and regulations have received as much attention in recent years as the Bank Secrecy Act, Office of Foreign Asset Control regulations, and the new U.S. Patriot Act. All these rules work together to place a significant burden on your institution - policies and procedures must be developed and a comprehensive program must be implemented. The information presented in this Webinar will help you understand the rules and their requirements so you can be sure your program meets the requirements.
This two-hour course will help you:
- Currency Transaction Reporting under the BSA, including exemptions
- Suspicious Activity Reporting - what is suspicious and when should you file a SAR?
- Selling monetary instruments for cash, collecting information
- Funds transfer record keeping - more information collection
- OFAC rules - monitoring the lists and what to do
- Blocked transactions and accounts under OFAC rules - what does this mean?
- US Patriot Act and the Customer Identification Program (CIP) - What do we have to do?
- Identifying customers, documentary (and non-documentary) evidence, and record retention under CIP rules
Plus frequent question and answer sessions throughout this presentation.
Who Should Attend:
These rules impact most anyone in the bank who has direct dealings with customers, such as Customer Service Representatives and tellers. But others are impacted as well, like loan officers and others who make important customer-related decisions. Compliance officers, auditors, and attorneys too will benefit from this information, as well, as they often are the ones who must draft these complex programs, administer them, and audit them.
Presenter:
Carl Pry, J.D., Director of Fair Lending Compliance for KeyBank in Cleveland, Ohio. Mr. Pry provides a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues. He has spoken at dozens of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.
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