RW Advantage - Webinars

BSA Bank Secrecy Act Reporting Expectations
Presented By:BankersHub
Panelist(s) Info: Dennis Lormel Founder and President DML Associates LLC
Price:$249.00
Description:

Real or perceived, over the last several years regulatory expectations have been heightened. As we enter 2017, and embark in a new year, what can we expect regarding Bank Secrecy Act (BSA) reporting expectations? The BSA requires that financial institutions have AML Programs that are “reasonably designed” to maintain appropriate records and file certain reports involving currency transactions and a financial institution’s customer relationships. Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) are the primary means used by banks to satisfy the requirements of the BSA.

As set forth in the introduction of the BSA, the regulations were originally intended to aid investigations into an array of criminal activities, from income tax evasion to money laundering. Law enforcement agencies have found CTRs to be extremely valuable in tracking the huge amounts of cash generated by individuals and entities for illicit purposes. SARs used by financial institutions to report identified or suspected illicit or unusual activities are likewise extremely valuable to law enforcement agencies.

The biggest failure of an AML Program is the failure to file or to adequately file SARs. As we begin a new year, it’s a good opportunity to assess BSA reporting expectations and to address the question of how to define a “reasonably defined” BSA/AML Program.

This insightful session will discuss the following points:

  • Purpose and evolution of the BSA
  • Overview of BSA reports and requirements
  • Benefits of BSA reporting to law enforcement
  • Measuring regulatory expectations for BSA reporting

Available Sessions:

Recorded On: Wednesday, February 8, 2017
Price: $249.00* < Back To Details
* Invoice will include sales tax as applicable.
Total Price: $249.00
Upon registration, an invoice will be mailed to the address provided above.