BSA/AML Top Gun Conference
March 5 - 6, 2019All times are relative to
Mountain Standard Time in
Remarks from FinCEN |
Hear directly from FinCEN what the hot buttons and new initiatives are, with insight into trends in SAR filings and what you need to know now. FinCEN will also discuss recent case studies and updates and virtual currency regulations.
What Happened Since Last Year?
This session provides a high level overview of BSA/AML developments from the last twelve months. We'll deliver a fast-paced look at enforcement actions, new guidance, exceptive relief, any rule changes, exam manual updates, and AML matters in the news.
Risk Assessments: Theory v. Application
BSA Risk Assessments are a crucial part of any BSA Compliance Program. The FFIEC exam manual guides us on what needs to be included in one. But what do we do with the risk assessment and the results when it is completed? This presentation will cover the theory of a BSA Risk Assessment -- and the application of the risk assessment based on the results. Testing, quality control, and issues remediation will be a few of the discussion points.
The CDD & EDD Fifth Pillar: Beyond Beneficial Ownership
Although beneficial ownership has grabbed the headlines in 2018, the fifth pillar has three other requirements that we cannot overlook. We dissect the requirements and discuss evolving expectations and proactive steps to take to ensure compliance with all the fifth pillar requirements.
OFAC - What You Need to Know NOW
The latest U.S. sanctions are the most complex ever. This session will help you prepare your OFAC program for your next exam. This session will help you understand the fundamentals of International Sanctions as it explores hot topics such as the changes in sanctions affecting Iran, Russia, Venezuela, and North Korea. It will highlight common mistakes and misconceptions, cover OFAC and Beneficial Ownership, and help you prepare your OFAC program for your next exam.
Marijuana, CBD, and More
A recent article in Rolling Stone was titled "Why 2019 Will Be the Year of Weed." Medical marijuana is legal (at the state level) in more than 30 states and 10 states have even legalized recreational use of pot, but the federal view is more murky than ever. What's a BSA officer to do? What should be considered a marijuana-related business? What's the scoop on CBD? What are the effects of the 2018 Farm Bill? What came out of the 2/13/19 congressional hearing on banking for marijuana businesses?
EDD/CDD on High Risk Customers
Once you have determined you have a high risk customer, what next? Your EDD documentation and analysis should be customer specific. We'll talk about what triggers an Enhanced Due Diligence inquiry, whether all EDD inquiries are the same. We will also discuss how frequently you should review, the standard for keeping the KYC information current, and challenges that may present themselves in EDD monitoring and recordkeeping.
Disguising What They Do
When a prospective customer realizes you wouldn't knowingly bank them (because they are engaged in illicit or illegal activity or will present a level of risk or extra you are not willing to embrace), they may go to great lengths to conceal what they're up to. This session is designed to help you detect these "masters of disguise" and we will examine strategies for seeing through the masquerades so you can make an informed decision "to bank or not to bank."
Financial Investigations by HSI
The Department of Homeland Security ICE Homeland Security Investigations has a network of offices across the country investigating illicit finance and proceeds of crime. Some of the suspicious activity you report may spark one of their investigations. This session provides insight into how HSI operates and what patterns of illicit financial activity HSI considers relevant when bankers are monitoring their customers and filing Suspicious Activity Reports.
Suspicious Activity Monitoring Across Business Lines
When business lines outside of the BSA Department are responsible for aspects of monitoring such as fraud, treasury management services, trust, lending and IT, it can present challenges for the BSA officer who is charged with overall responsibility for managing the BSA Program. This session focuses on how to build bridges and ensure oversight and accountability for BSA compliance throughout the organization.
In this "lightning round" session, Terri Luttrell takes the lead with the panel of experts discussing a wide range of topics, including NGOs, alternate authentication of identity for online accounts, practical suggestions for determining when an entity should be considered high risk, SAR "magic words," challenges presented by new financial services, risk rating trusts, EDD questions to ask, when/if negative news should trigger a SAR filing, what we're hearing about regulators wanting you to consider customers with PSP professional designations as high risk, resolving exceptions on verifying identity of beneficial owners, updating CIP information, and more!
Anatomy of an HSI Case
Mix together a famous furniture store, a well-known reality show star, and add heaping helpings of bank fraud, necrolarceny, and money laundering and the result is not good. In this session you'll hear how Homeland Security Investigations ferreted out the facts and laid the groundwork for successful prosecution of the perpetrators.
Model Governance: Monitoring System Management
Examiners and auditors scrutinize transaction monitoring systems and OFAC interdiction systems. Many financial institutions have created Systems or Analytics positions within their institution to manage their various BSA/AML/OFAC systems. This presentation goes beyond the simple Data Validation and Model/ Efficiency Validation. Building out an enterprise BSA Model Governance program will provide any auditor or examiner with all the information they need to know regarding your institution's transaction monitoring system, OFAC interdiction system, and the management of said systems. Model Purpose, Tuning and Optimization, and Roles and Responsibilities are just a few of the discussion points in this session.
Insider Red Flags and Investigations
The delicate nature of investigating and reporting upon suspicious activity involving an insider requires careful, strategic action to avoid missteps that can lead to accusations of employer misconduct, harm to customers and substantial reputation and financial consequences.
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