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Employee Basics of Anti-Money Laundering Requirements Under the Bank Secrecy Act

Understand the key anti-money laundering requirements and make sure you stay compliant.

This course will cover the basic framework for anti-money laundering compliance under the Bank Secrecy Act. You will gain an understanding of the key requirements for financial institutions and learn about the role of line of business employees in the institution's overall anti-money laundering compliance function. The topic will also provide an overview of some of the most recent policy developments in this space.

51 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 34 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

BSA/AML Background

  • The Bank Secrecy Act
  • The Anti-Money Laundering Act of 2020 and the Corporate Transparency Act

Overview - Elements of Customer Due Diligence

  • Customer Identification and Verification
  • Risk Assessment
  • Customer Monitoring
  • Recordkeeping and Retention

Customer Identification and Verification

  • The Customer Identification Program (CIP) Rule
  • Customer Due Diligence/Beneficial Ownership Rule
  • Customer Risk Profiling
  • Enhanced Customer Due Diligence

Risk Assessment

  • Customer Profile
  • Customer Contact Channel
  • Country/Geographic Region
  • Product/Service
  • Transaction Type
  • External Risk

Customer Monitoring

  • Risk-Based Monitoring
  • Suspicious Activity Reports

Recordkeeping and Retention

  • Record Retention Requirements

Other Issues

  • Technology (Artificial Intelligence and Machine Learning)
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More Program Information

Why Lorman?

Over 34 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 Course

This course was last revised on October 29, 2021.

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

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 34 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

Jules Carter

Jules Carter

Moore & Van Allen PLLC

  • Associate in Moore & Van Allen PLLC's Litigation group
  • Practice is focused primarily on complex commercial litigation and financial regulatory compliance issues
  • Financial regulatory experience includes helping financial institution clients respond to regulatory enforcement actions and address the supervisory concerns of state and federal banking authorities
  • Assists clients in their recovery and resolution planning efforts
  • Involved in significant efforts related to AML/CFT and is a member of the Association of Certified Anti-Money Laundering Specialists (ACAMS)
  • Full bio may be found here: https://www.mvalaw.com/people-JulesCarter
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More Program Information

Why Lorman?

Over 34 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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!


  • OnDemand Courses
  • Live Webinars
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  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 409334
Published 2021
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