The Anti-Money Laundering Workshop was developed by the FFIEC member agencies utilizing the Bank Secrecy Act (BSA)/AML Examination Manual. The course is a mix of agency specialist instruction, interactive case studies, and guest speaker lectures. Topics covered include:
- Examination procedures, including scoping and planning and risk assessments
- Customer identification program, customer due diligence, and beneficial ownership
- Electronic funds transfer
- Nonbank financial institutions, including money services businesses (MSBs)
- Higher risk customers
- Suspicious Activity Reports (SARs)
- Monitoring and reporting processes
- Requirements of the Office of Foreign Asset Control (OFAC)
Content is foundational and is not designed for experienced subject matter experts.
The length is four days.
| At-a-Glance | |
|---|---|
| Length | 4 days |
| Delivery | Virtual |
| Prerequisite/Pre-course | Yes |
| Continuing Education | No |
Objectives
Upon completion, participants should be able to:
- Recognize potential money laundering risks confronting financial institutions.
- Assess the adequacy of financial institution policies, procedures, and processes in complying with BSA/AML Examination Procedures and Programs.
- Discuss current trends significant to AML.
Target Audience
The course is designed for participants with examination knowledge of the Bank Secrecy Act and regulations and some experience in reviewing a financial institution’s BSA program for compliance using the BSA/AML Examination Manual.
Pre-Course Assignment
The pre-course is recommended reading. The estimated completion time is two hours.