Bank Secrecy Act: Overview For All Personnel

The Bank Secrecy Act (BSA) is one of the main tools the Federal Government uses to combat financial crimes and terrorist activity. The BSA requires banks to assist in preventing crime by enacting sound policies regarding reporting, recordkeeping, and monitoring of potentially criminal activity. All bank personnel are required to receive annual BSA training.

This course is intended for those bank personnel that are not involved with daily customer activity. This may include, but not limited to, employees in the following areas: Marketing, Human Resources, IT & Security, and Accounting.

This course would also be appropriate for those seasoned employees who are well versed in the rules of the Bank Secrecy Act and need a refresher.

Learning Objectives:

• Acknowledge the five pillars of a BSA/AML program
• Understand the basic technical requirements of the Bank Secrecy Act

 Course Outline:

• BSA/AML Program Overview

• Customer Identification Program
• Customer Due Diligence & Enhanced Due Diligence
• Suspicious Activity Reports
• Currency Transaction Reporting
• Recordkeeping
• OFAC
• Information Sharing

Rev–Apr. 2021. Course length ≈ 22 minutes.

This course is worth 0.5 CPE credit.