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Monitoring High Risk Transactions

Event Details

Monitoring High Risk Transactions

Time: February 17, 2022 from 10am to 1pm
Location: online
Street: Compliance Online
City/Town: Palo Alto
Website or Map: https://www.complianceonline.…
Phone: 8887172436
Event Type: webinar
Organized By: ComplianceOnline
Latest Activity: Jan 27, 2022

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Event Description

This BSA/AML (Bank Secrecy Act/ Anti Money Laundering) compliance training will help attendees understand, identify and mitigate the risks associated with high risk transactions.

Why Should You Attend :

An effective BSA/AML compliance program controls risks associated with the institution’s products, services, customers, entities, and geographic locations; therefore, an effective risk assessment should be an ongoing process, not a one-time exercise. Monitoring your risks includes monitoring your transactions, especially your high risk transactions.

Per the FFIEC Manual: The development of the BSA/AML risk assessment generally involves two steps: first, identify the specific risk categories (i.e., products, services, customers, entities, transactions, and geographic locations) unique to the institution: and second, conduct a more detailed analysis of the data identified to better assess the risk within these categories.

Several examples of a system of internal controls will help you document your monitoring program.

Areas Covered in the Webinar :

  • Resources.
  • Accessing the data: What are the obstacles? Core system, teller system, BSA monitoring program, etc.
  • How did the activity occur? In person, telephone, internet, wire, ATM, or ACH.
  • Sample risk assessment for products and services.
  • Systems of internal controls.
  • Managing Non Resident Aliens.
  • Documenting and Monitoring a Cash In and Cash Out Report.

Who Will Benefit :

  • Financial Officers
  • Bank Secrecy Act Officers
  • Front Line Staff
  • Risk Officers

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