From the inception of the BSA in 1970 through the passage of the USA Patriot Act following the terrorist attacks in September 2001, Congress has enlisted the help of financial institutions to help combat money laundering, terrorist financing, and other illicit financial activities. BSA/AML and OFAC compliance remains a high supervisory priority and starts with oversight provided by each institution’s board of directors. Online training modules make training convenient and quick. Each module can be completed in 20-30 minutes on any device, at any time.
This educational series will provide a foundational overview of:
• Identifying who is responsible for BSA/AML & OFAC compliance within an institution • Key terms and language referenced in the FFIEC's BSA manual • Guidance that supports a strong BSA program • The five pillars of the BSA program • The stages and processes of money laundering • Methods of Anti-money laundering • Responsibilities of a BSA/AML compliance program • Reporting and records that must be made or maintained • Penalties for non-compliance with BSA regulations • Emerging risks in the financial industry related to BSA compliance • Where to find and how to use OFAC lists and sanctioned countries/program • Methods for screening transactions and customers
Our unique library of elearning content is created in-house by our own professional learning content development team working with our many industry experts bringing hundreds of years of experience to the development life-cycle. Our elearning content is designed to help your financial institution survive the current cybersecurity and regulatory environments.
You can access and manage our content through our 10-D Learning Management System or purchase our content to use for your own Learning Management System.
