BSA and OFAC 2020 Update

Your Board of Directors are required to be updated and kept current on BSA issues. This concise training program explores all the major BSA and OFAC issues of 2020. It includes potential legislation on beneficial ownership and the Safe Banking Act as well as an overview of what it means to "know your customer". Your board will enjoy this event and hopefully learn how to provide oversight for the bank's risk.

Covered Topics:

  • Customer Identification Programs (CIP) & Customer Due Diligence (CDD)
  • Illicit Cash Act
  • How to handle High Risk Customers such as Marijuana and Hemp businesses
  • CTR and SAR filings and forms
  • Recordkeepling – Wires and Monetary Instruments
  • 314 a and 314 b
  • OFAC