PRESS RELEASE

FOR IMMEDATE RELEASE
Nov. 12, 2015

CONTACT: Patrick Keefe, NASCUS Communications/(703) 528-5974; pkeefe@nascus.org

300 TO TAKE DEEP DIVE INTO BANK SECRECY ACT (BSA) REQUIREMENTS
Program in partnership between NASCUS/CUNA focuses on changes, updates

FORT LAUDERDALE, Fla. -- About 300 participants will dig into the details of Bank Secrecy Act requirements when they meet in Fort Lauderdale beginning Monday (Nov. 16) at the NASCUS/CUNA BSA Conference, which runs through Wednesday.

“Compliance with BSA is one of the most daunting, and vital, challenges facing credit unions today,” said NASCUS President and CEO Lucy Ito. “State regulators are well aware of the need for credit unions to keep up with changes necessary for compliance, and sponsor this program and others to help credit unions successfully confront the challenges.”

The three-day conference features more than 20 hours of educational sessions. Among the top general session segments: “Memoirs of A Sex Slave Survivor,” featuring Timea Nagy, a survivor of human trafficking. In her session, Nagy will provide a new perspective about how BSA detection efforts can play a key role in curbing and preventing terrorist financing and human trafficking – and inspire rank and file credit union and other financial institution staff members to greater diligence in their detection efforts.

Other key general session segments include: Warning signs of human trafficking; Bitcoin and its implications; risks inherent in growing use by millennials and others of alternate payment methods (including mobile devices and prepaid cards); issues in serving “money service businesses;” legal obstacles in providing financial services for marijuana businesses (featuring the CEO and legal counsel for Fourth Corner Credit Union of Denver, a credit union chartered to serve marijuana businesses); the cyber black market, detailing how cyber criminals developed and sold malicious cyber software by evading BSA regulations – by design.

Breakout sessions at the NASCUS-CUNA event include sessions on BSA-related issues for shared branches, remote deposit capture, cash intensive businesses and cyber security.

A special pre-conference program gets under way Sunday (Nov. 15) with a series of sessions focusing on internal audit strategies and BSA certification.

The conference is being held at the Marriott Fort Lauderdale Harbor Beach through Wednesday (Nov. 18).

Information Contact:
Patrick Keefe, Vice President, Communications, pkeefe@nascus.org or (703) 528-5974

The National Association of State Credit Union Supervisors (NASCUS) is the primary resource and voice of the state governmental agencies that charter, regulate and examine the nation’s state-chartered credit unions. NASCUS membership is made up of state-chartered credit unions, state regulators and other supporters of the state credit union system. NASCUS is the only organization dedicated to the defense and promotion of the state credit union charter and the autonomy of state credit union regulatory agencies.