May 21, 2020 - Airport Embassy Suites, Miami, Florida
May 22, 2020 - The Florida Hotel, Orlando, Florida
May 22, 2020 - Live Streaming Video

Speaker: Silvia Garcia Maggio, Compliance Alliance, Inc.

This event is approved for 6.75 CRCM and 6.75 CAFP continuing educational credits

This One-Day Seminar provides a comprehensive and up-to-date overview of top industry concerns related to BSA/AML compliance responsibilities. In the age of deregulation, BSA/AML is here to stay. Compliance Alliance incorporates recent feedback from our member base to hit the hot topics and stress points for BSA compliance in community banks across the country. This includes: preparing for post-Beneficial Owner rule examinations, whether to bank marijuana businesses, and other pressing BSA issues. In addition, this seminar will also give attendees an opportunity to discuss issues and problem solve with similarly-situated banks.

Why Attend?
BSA is one of the few regulations where compliance is so critical it is classified as a "safety and soundness" issue;
Regulations require every bank to have an ongoing Bank Secrecy Act training program and examiners routinely ask for evidence — even from experienced BSA personnel; and SAR filing requirements are one of the most difficult compliance responsibilities your institution has.

Who Should Attend?
This program is designed for BSA officers, compliance officers, internal audit staff, and any employee who assists with BSA monitoring, auditing, or compliance. 

Registration Prior to 4/21/20
FBA Member: $355.00/person
Non-Member: $710.00/person

Register for the Event Below

Click to download a brochure

Registration After 4/21/20
FBA Member: $405.00/per person
Non-Member: $810.00/per person

Topics Covered

The presentation is a comprehensive overview of BSA/AML compliance issues. The program includes coverage of:

  • BSA Today: This session will cover real situations, findings and consent orders related to BSA/AML compliance and what we can learn from these orders. In addition, you’ll hear how your peers across the country as dealing with BSA/AML/OFAC compliance including answers to frequently asked questions of over 500 financial institutions.

  • CDD and Beneficial Owners: While Beneficial ownership has been covered in-depth over the last couple years, this session  will prepare attendees for their first post-effective-date exam by discussing the highlights of the interagency exam procedures, feedback from regulators and touching on themes from the  hundreds of C/A Hotline questions related to implementing this rule. Attendees will have time for small group discussions related to challenges in implementing the CDD rule, and exam feedback and preparation.

  • Monitoring for High-Risk Activities: Identification of higher-risk customers, products, and services is critical to the bank’s underlying risk assessment, but how do we know who or what poses a higher risk of money laundering or terrorist financing? This session will cover identifying high-risk BSA areas, how to mitigate those risks and whether a customer or product that is deemed high risk needs to continually be considered high-risk.

  • Banking Money Services Businesses: Money Service Businesses pose unique challenges to banks – who is actually an MSB and who is simply an agent? Does my customer have to be registered with FinCEN or licensed with the state? What’s my risk related to banking this MSB? This session will revisits the basics of who is an MSB and also provide best practices on what information you need to open, maintain or when to close an MSB account.

  • Marijuana Banking: Thirty states in the US have some version of legalized marijuana – either recreational, medicinal or both. This means banking marijuana-related businesses continues to be an ongoing risk decision for bankers. With 2018 rescission of the Cole Memo, however, there continues to be questions related to if banks can or should bank these businesses and if so, how to bank these businesses. This session will cover the FinCEN guidance related to marijuana banking, MRB SARs and risk considerations when making a bank policy about marijuana.

  • Privately-owned ATMs: Privately owned ATMs are known sources of risk for money laundering and fraud. If you bank convenience stores, grocery stores, liquor stores or gas stations, you may have privately-owned ATMs as well. This session will cover risks to look out for, important definitions, differences in Independent Sales Organization relationships and best practice risk mitigation.

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