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Cybersecurity Rules, BSA Wire Transfer/Payment Order Recordkeeping, and Federal Legislation Update

Gain deeper insight into BSA-AML requirements, what must be saved and for how long, as well as critical cybersecurity regulatory requirements to maintain the safety and security of such information.

BSA-AML programs are complex and involve the review and assessment of significant amount of documentation regarding financial transactions and customers. Financial institutions must address critical issues regarding the retention and protection of this information to comply with legal requirements. Having the right documentation is critical give the regulatory and law enforcement attention to BSA-AML programs and the activities that they monitor. This topic will benefit practitioners in the money services or banking businesses on recordkeeping requirements in the digital age, and review the BSA-AML requirements, what must be saved and for how long, as well as critical cybersecurity regulatory requirements to maintain the safety and security of such information. The information will also review active federal legislation to amend the BS-AML framework including proposed changes to recordkeeping.

Runtime: 63 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Cybersecurity and BSA Recordkeeping for Wire Transfers and Payment Orders

  • General Requirements: Documentation of BSA Compliance Program
  • Detailed Policies and Procedures for Conducting Bank Secrecy Act (BSA) Related Transactions
  • Training of Employees
  • Provision for Independent Audits
  • Monitoring of the Compliance Program
  • Retention of All BSA Related Documentation
  • Office of Foreign Asset Control Requirements
  • Transactional Documents
  • SAR and CTR Documentation
  • Customer Documents
    • Customer Identification Program

Protection of Consumer Privacy - Cybersecurity

  • Gramm Leah Bliley Act (GLBA)
    • The Privacy Rule (in Effect Since 2000)
    • The Safeguards Rule (in Effect Since 2003)
    • Federal Trade Commission Proposed Amendments to the Safeguards Rule
  • State Law Requirements

Active Legislation to Reform BSA/AML Framework

  • H.R. 2513, Corporate Transparency Act
  • H.R. 2514, Coordinating Oversight, Upgrading and Innovative Technology, and Examiner Reform (Counter) Act
  • Senate AML Bill - Illicit Cash Act
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on November 7, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Cassie Lentchner

Cassie Lentchner

Pillsbury Winthrop Shaw Pittman LLP

  • Senior counsel with Pillsbury Winthrop Shaw Pittman LLP
  • Extensive experience coordinating between diverse constituencies and implementing and supervising all aspects of a legal and compliance program
  • Practices in regulatory compliance, including the development and assessment of programs to implement and monitor regulatory requirements, including programs for cyber-security, anti-corruption, government and political activities, ethics and global financial crimes
  • J.D. degree, with honors, Order of the Coif, Top 10%, Rutgers University Law School; B.A. degree, Rutgers University
  • Can be contacted at 212-858-1211 or [email protected]
Craig J. Saperstein

Craig J. Saperstein

Pillsbury Winthrop Shaw Pittman LLP

  • Partner with Pillsbury Winthrop Shaw Pittman LLP
  • Assists clients in developing and implementing sophisticated government relations strategies at the federal and state levels that are geared to provide a demonstrable return on investment
  • Represents clients on a variety of policy issues, including financial services, cybersecurity, international trade, veterans, energy, economic development, transportation, and health care matters
  • Frequent speaker and has written numerous publications
  • J.D. degree, American University, Washington College of Law; B.A. degree, Duke University
  • Can be contacted at 202-663-9244 or [email protected]
Deborah S. Thoren-Peden

Deborah S. Thoren-Peden

Pillsbury Winthrop Shaw Pittman LLP

  • Partner with Pillsbury Winthrop Shaw Pittman LLP
  • Co-leads Pillsbury's FinTech, payments & blockchain team, its consumer & retail industry team, its cybersecurity, data protection & privacy team, and its unclaimed property team
  • Practices in electronic payments, electronic banking, mobile payments, gift cards and prepaid cards
  • Received numerous honors and awards and is a frequent speaker
  • J.D. degree, University of Southern California Gould School of Law; B.A. degree, University of Michigan
  • Can be contacted at 213-488-7320 or

[email protected]

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 405614
Published 2019
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