“Surviving” The Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination

Date Recorded: August 30, 2023
Presented By: Mark Dever, AAP, CAMS, Director

A two-hour webinar to update members of the compliance community on the current AML/CFT/BSA Examination.

In April 2020, the regulatory agencies transitioned from a “paper-book” examination materials format to an on-line InfoBase structure. The InfoBase was developed to provide the field examiners at the regulatory agencies with an electronic source for training and distributing needed examination information. Financial institutions have access to this InfoBase and can benefit from the extensive training and examination information. with many new tools and resources to assist in “surviving” the exam. The examination materials have been updated three times since the transition from paper to “InfoBase”, with many of these revisions designed to emphasize and enhance the Agencies’ risk-focused approach to BSA/AML supervision. The Agencies made revisions throughout the updated sections to ensure the language clearly distinguishes between mandatory regulatory requirements, and supervisory expectations set forth in the guidance.

Here’s What You’ll Learn:

• Basic Structure of the Exam and the various sections;
• How the examiners will approach and complete the test;
• Review the changes since migration to the on-line format; and
• Examine “feedback” obtained from panel discussions with examiners and from examinees attending our full-day BSA training programs.

Recent well-publicized BSA enforcement actions, fines, and deferred prosecution agreements continue to support a climate proving AML/CFT/BSA compliance remains of paramount importance to all financial institutions. This two-hour webinar will not only provide the compliance and audit staffs with a current “snapshot” of the impacts from the updated sections of the examination manual, but it will also discuss other regulatory and legal issues related to anti-money laundering and combating terrorist financing activities.