The financial industry is required to take an increased leading role in the prevention of money laundering and potential terrorist funding. In addition, compliance with the Bank Secrecy Act (BSA) continues to be a top priority with the regulators. One major requirement of BSA is to ensure that the BSA Officer and the BSA Team are well trained and qualified to carry out the duties of this critical position. The BSA/AML Fundamentals School provides the framework for understanding the BSA team’s roles and responsibilities for BSA/AML and OFAC compliance.

BSA is an on-going, ever-changing “safety and soundness” issue. This School will provide current, updated tools, techniques, and “real world” practice and examples for learning the critical components of a BSA/AML Compliance Program. We will review the basic BSA regulatory framework and provide you with an understanding of the BSA, OFAC, and core recordkeeping and reporting requirements. During this program, the attendees will utilize the FFIEC BSA/AML Examination Manual and 31 CFR Chapter X as well as receive tools, handouts, and best practices.