The Bank Secrecy Act (BSA) is one of the main tools the Federal Government uses to combat financial crimes and terrorist activity. The BSA requires banks to assist in preventing crime by enacting sound policies regarding reporting, recordkeeping, and monitoring of potentially criminal activity. This course is intended for those involved in all aspects of the loan process. This includes lenders, loan operations, lending assistants, and credit departments. 

Learning Objectives:

•  Acknowledge the five pillars of a BSA/AML program
• Understand the basic technical requirements of the Bank Secrecy Act
• Understand customer due diligence and account monitoring requirements
• Look for red flags that may appear during your daily work activities

Course Outline:

• BSA/AML Program Overview
• Customer Identification Program
• Customer Due Diligence & Enhanced Due Diligence
• Suspicious Activity Reports
• Currency Transaction Reporting
• Recordkeeping
• OFAC
• Information Sharing
• Customer Due Diligence and Suspicious Activity
• Red Flags

Rev-Jan. 2025. Course length ≈ 35 minutes.

This course is worth 0.5 CPE credits.