NASCUS Partnering with CUNA on Comprehensive Bank Secrecy Act Training This Week

Oct. 31, 2011 - The seventh annual NASCUS/CUNA System-Wide Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Conference is this week in San Diego, California. This conference is the largest credit union specific BSA/AML conference and brings together regulators, credit unions, leagues and other compliance professionals for three days of comprehensive discussion of the issues.

Expert faculty featured at this year's conference include regulators from NCUA, North Carolina's Credit Union Division, FinCEN and OFAC. For the first time, this year will also feature presentations by the Department of Homeland Security's Financial Crimes and Immigrations divisions. The industry perspective will be represented by experts from credit unions that demonstrate how both modestly sized and larger institutions manage daily compliance. In addition, experienced attorneys and consultants will walk attendees through numerous nuanced areas of BSA/AML highlighting the key issues all examiners and compliance officers should understand.

Attendees are learning about the latest rules and guidance issued by FinCEN and OFAC regarding compliance. Regulators are discussing their examination expectations, and another session will focus on the past year's enforcement actions against domestic financial institutions. The latest trends in fraud will be identified and developments in wire transactions will be reviewed.

Several sessions will focus on a variety of complex issues related to serving resident and non-resident foreign nationals and their dependents. Breakout sessions will focus on issues related to serving businesses as members, preparing for examinations, shared branching, and CUSOs. Additional hot topics include developing a practical procedure for conducting investigations to determine whether to file a SAR, trends in risk assessments, international transactions, and much more.

If you have questions about NASCUS/CUNA BSA training, contact Brian Knight at brian@nascus.org.