BSA/AML Seminar
October 5, 2023

Location: BankIn Minnesota - SHAZAM Education Center | 7900 International Dr, Ste 685 | Bloomington MN 55425

Investment:
$345 - Bank Member
$690 - Prospective Member

Avoid common violations and meet your annual training requirement. This one-day seminar covers all key elements of BSA compliance programs for non-complex community banks with community bankers in mind to take the guess work out of regulatory expectations.

Get answers to your questions as Keith provides working examples and practical solutions that will assist your Institution in meeting your BSA/AML regulatory requirements. In addition, network with your colleagues in the industry to compare and share!

Attending this seminar will enable you to: Recognize common pitfalls and problem areas to avoid.

What constitutes an adequate BSA Compliance program?

• Downsides of de-risking customers
• Some tools for analyzing information related to marijuana and hemp businesses and COVID-19, etc.
• How to proactively anticipate changes in criminal behavior as it activity evolves

Why is a risk assessment important and how should I keep it updated?

Understand requirements and avoid common problem areas of:

• Beneficial ownership due diligence rule
• Currency Transaction Reports and exemptions
• Suspicious Activity Reports – new problem areas, including elder abuse and mortgage fraud, plus confidentiality rules
• Customer and Enhanced Due Diligence
• Monetary Instruments
• Funds Transfer Recordkeeping

Office of Foreign Asset Controls (OFAC)

• What constitutes an adequate OFAC compliance program and what will the examiners review
• Sanctions programs, requirements, lists, and screening

USA PATRIOT ACT (Customer Identification Program)

• Identification and verification requirements
• Learn how to properly handle law enforcement search request
• Understand Customer Identification Program (CIP) pitfalls

Avoid common problem areas and common violations

Presenter: Keith E. Monson, CRCM, CERP is the Chief Risk Officer for Computer Services, Inc. He has over 30 years of banking experience and frequently speaks on a variety of compliance related issues. Mr. Monson has compliance experience with both large and small financial institutions and has also provided compliance management assistance to banks as a compliance consultant. He is a past Chairman of the CRCM Advisory Board and a former member of the Certification Council for the Institute of Certified Bankers. He teaches many Federal Compliance Schools nationwide annually.