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BSA / AML COMPLIANCE FOR PRIVATE BANKERS
 
     
  Summary Description  
  One of the objectives of this course is to provide a comprehensive knowledge of the underlying BSA/AML rules and regulations to which a financial institution must comply as well as recent government reports that explain the risks associated with private banking accounts. In addition, the course addresses the due diligence and enhanced due diligence requirements that a financial institution must implement when opening and monitoring private banking accounts to mitigate money laundering and terrorist financing risks and to recognize suspicious activities.

BSA/AML seminars are delivered through class discussions, role playing as well as team exercises using short scenarios and case studies.
 
     
  Target Audience  
 

Private Banking and Compliance officers.

 
     
  Main Topics  
 
At the end of the course, participants will be able to:

Comply with the KYC / CIP program requirements for a private banking
  account
Explain Section 312 for private banking relationships
Recognize a PEP and other types of high-risk customers
Identify the parties to be screened against OFAC
Establish the elements that rate a customer's risk
Determine the source of wealth, source of funds, and purpose of a private
  banking account
 

Distinguish between due diligence and enhanced due diligence
  requirements
Explain the purpose and format of a call plan and a call report
Recognize the deficiencies of a call report
Estimate a customer's expected account activity
Analyze current account activity versus expected activity as part of account
  monitoring
Recognize suspicious activities

 
       
 
  Duration  
  2 days  
     
   
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