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 will provide you with an overview of the recordkeeping and reporting requirements of the Bank Secrecy Act. This course in intended for BSA and compliance personnel.

Learning Objectives:

• File timely and accurate Currency Transaction Reports
• Collect the required information from purchasers of monetary instruments
• Retain the required information for funds transfers
• Report and maintain suspicious activity
• Act appropriately to any positive OFAC matches
• Report any foreign accounts as applicable
  

Course Outline:

•  Currency Transaction Reporting
• Monetary Instruments
• Funds Transfers
• Suspicious Activity Report
• OFAC
• Foreign Accounts

Rev–Mar. 2021.  Course length ≈ 38 minutes.

This course is worth 0.5 CPE credit.