Course

Course Summary
Credit Type:
Course
ACE ID:
CUNA-0053
Organization:
Credit Union National Association (CUNA)
Location:
Hybrid
Length:
5 days (25 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Upper-Division Baccalaureate 3 banking and compliance
Description

Objective:

The course objective is to bring together Bank Secrecy Act compliance officers, state and federal examiners, industry experts and regulators for discussion, networking and education on BSA/AML compliance issues.

Learning Outcomes:

  • understand currency transaction report and suspicious activity report requirements
  • understand Bank Secrecy Act record keeping requirements
  • list penalties for non-compliance
  • understand agency requirements and guidance
  • learn about new developments in Bank Secrecy Act and anti-money laundering
  • learn about the future of Bank Secrecy Act and ant-money laundering
  • list the key components of a Bank Secrecy Act compliance program

General Topics:

  • The components of a BSA compliance program, including member due diligence
  • Customer/Member Identification Program (CIP/MIP)
  • Currency Transaction Reports (CTRs)
  • Suspicious Activity Reports (SARs) and monitoring requirements
  • Responding to law enforcement requests
  • BSA recordkeeping requirements
  • 314(a) and 314(b) Information Sharing
  • Office of Foreign Assets Control (OFAC) compliance Penalties for non-compliance
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Case Studies
  • Classroom Exercise
  • Discussion
  • Lectures
  • Practical Exercises

Methods of Assessment:

  • Examinations

Minimum Passing Score:

70%
Supplemental Materials