Description
Builds the customer identification and due diligence process for specific types of accounts believed to pose increased risks of money laundering and terrorist financing. Explains how the USA PATRIOT Act affects sharing of certain types of information between financial institutions and law enforcement officials.
What You’ll Learn
By the end of BSA/Anti-Money Laundering for Compliance Professionals, you will be able to:
- Describe the background of the Bank Secrecy Act and other anti-money laundering (AML) laws
- Explain the importance of a risk assessment program
- Describe the purpose and significance of the customer identification program
- Discuss your bank’s customer due diligence policies, procedures, and processes
- Explain the requirements for suspicious activity reporting
- Identify currency transaction reporting requirements and the two categories of exemptions
