"My favorite part of attending ICBA Institutes is connecting with peers from other institutions. I look forward to future events knowing familiar faces will be there, and while the training is always excellent, it’s the networking that keeps me coming back."
-McKenzie Humpal, VP Compliance Officer at First Citizens Bank in Iowa
"Through ICBA, I earned the CCBIA, CBAP, and CCBCO designations, each enhancing my role at different stages of my career. Each designation provided valuable resources and insights that improved my expertise in these areas."
-Michael Hoehn, Assistant Compliance Officer and CRA Officer at First Metro Bank in Muscle Shoals, Alabama.
"The Fraud Seminar was excellent and very informative. I got a lot of resources that will help in our FI. Great tools."
-Donna Franklin, AmeriState Bank, Atoka, Ohio
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Bank Secrecy Act: Frontline & Deposit Operations (Individual)
Online Course
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CPE Credits: 1.50
The Bank Secrecy Act is one of the main tools the Federal
Government uses to combat financial crimes and terrorist activity. The
BSS requires banks to assist in preventing crime by enacting sound
policies and procedures regarding reporting, recordkeeping, and
monitoring of potential criminal activity. Many of the requirements
are initially detected and handled by the frontline and operations
staff of the bank. It is important this staff understand what the
rules are and how to handle each of the requirements under the law.
This five-part course will provide frontline and operations staff with
the knowledge they need to know regarding currency transaction
reports, customer due diligence and beneficial ownership, customer
identification requirements, OFAC, transaction recordkeeping,
information sharing, and suspicious activity identification, reporting
and monitoring.
Learning Objectives:
State when a Currency Transaction Report should be filed
Explain the meaning of the term “multiple transactions” as it
relates to Currency Transaction Reports
Define “exempt person”
State the purpose of a Customer Identification Program
List the information that must be collected and verified when a
new account is opened
State the four core elements of a customer due diligence program
Understand the difference between the CIP and beneficial ownership requirements
Know the rules for opening an account for a legal entity customer
Ensure your bank has compliant written policies and procedures for
customer due diligence monitoring
Know the requirements for filing a Suspicious Activity Report (SAR)
Understand the confidentiality included with a Suspicious Activity Report
Learn how money laundering occurs
Identify common transaction red flags that may lead to SAR filings
Learn when documentation of a monetary instrument purchased in
cash must be recorded
Document certain information on funds transfers
Know when and how to comply with OFAC regulations
Differentiate between 314(a) and 314(b) requirements for
information sharing
