Understanding How a Basic BSA/AML Program Should be Established

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CEU Approved

  • 60 minutes

The purpose of this webinar is to provide a basic overview of Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Issues. We will discuss what money laundering and terrorist financing are and why they are concerns in the modern world. We will discuss what a good BSA/AML program should contain and the processes a financial institution should adopt to ensure that they comply with local laws and regulations, industry norms, and business standards.

Join this session by expert speaker Thomas E Nollner, where he will discuss how a financial institution should on-board customers, how they should establish the true identity of a customer, how they should understand the nature of a customer’s prior activity and anticipated activity, and finally how to determine if and when a customer’s activity becomes suspicious.

After attending this webinar you will understand why an effective BSA/AML program is so important and how you can benefit by adopting and implementing such a program. You will learn all of the issues your program should contain, what international standards are for such a program, and how you should report transactions/activity that is indicators of illegal activity.

Session Highlights:

  • How a financial institution should set up a sound BSA/AML Program

  • How a financial institution should develop and implement the appropriate policies, procedures, and practices to ensure proper controls, testing, and training for a good BSA/AML Program

  • How to build a customer’s profile to establish the normal activity for the account in order to know what the expected activity for the account will be in order to determine what is

  • How to risk rate your institution and your customers to include identifying Politically Exposed Persons (PEP) and other high-risk customers. The most important part of the webinar with is a discussion of the Suspicious Transaction/Activity Process.

  • discuss how a financial institution should identify, monitor, and report suspicious transactions/activity, with a special focus on

  • How to write an informative Suspicious Transaction/Activity Report.

  • How the institution’s financial intelligence unit (FIU)

  • How the governmental FIU work and how these offices can assist in the BSA/AML process.

Why You Should Attend:

You should attend this webinar because you will be presented with the most up-to-date and current information related to BSA/AML issues from a presenter who has worked in the field for over 30 years. You will hear real world examples and stories of the many different issues, schemes, and cases used by criminals to subvert a financial institution’s BSA/AML program and the results many financial institutions have faced from having poor or weak BSA/AML programs.

Who Should Attend:

The following individuals should attend this webinar:

  • Front-line BSA/AML staff

  • Account opening staff

  • Customer relationship staff

  • Risk managers

  • BSA/AML Officers

  • Compliance Officers

  • BSA/AML Audit staff

  • Directors

  • Senior Managers

  • Training Officers

  • AML/CFT Regulators

  • FIU Staff

Advanced Preparation: None

Program Level: Intermediate

Prerequisites: Basic knowledge of Risk Management, Anti - Money Laundering

Field of Study: Finance & Accounting

*You may ask your Question directly to our expert during the Q&A session. 

** You can buy On-Demand and view it as per your convenience.

Thomas E Nollner

Thomas E Nollner

Thomas E Nollner has more than 38 years of experience in financial institution supervision and consulting. Mr. Nollner spent 30 years as a National Bank Examiner (NBE) for the Comptroller of the Currency where he was a safety and soundness examiner and a compliance examiner. The last 15 years as an NBE and for the past 8 years as a consultant, Mr. Nollner has specialized as an AML/CFT examiner/consultant. In these roles he has analyzed financial institutions’ AML/CFT programs to ensure that they complied with applicable AML/CFT laws, rules, and regulations; he reviewed the suspicious transactions identification, monitoring, and reporting processes; he traced proceeds and transactions through several layers of activity; and he provided AML/CFT training for many different financial institutions.

Mr. Nollner currently works as a consultant for the Office of Technical Assistance (OTA), a branch of the U.S. Treasury that assists developing countries with banking issues. Mr. Nollner is assigned to the Economic Crimes Team that focused on training, assisting, and mentoring the staffs of the financial regulatory departments and financial intelligence units of various countries regarding AML/CFT compliance. In this capacity, he worked in countries such as Afghanistan, Iraq, Turkmenistan, Viet Nam, Honduras, Guatemala, Guyana, Suriname, and Argentina developing AML/CFT examination procedures, providing AML/CFT training and mentoring, and updating local AML/CFT laws and regulations.

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Edupliance is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

For more information regarding administrative policies such as complaint and refund, please contact our offices at 844- 810-1151.

PLEASE NOTE: To receive credit through the NASBA for this program you MUST attend the Live program in its entirety and complete the required progress checks.

Number of CPE Credits Awarded for This Course: 1.0 (Finance - 0.5, Accounting - 0.5)

Delivery Method: Group Internet Based

Want to attend in a Group? Call 844-810-1151 and Save upto 50%

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