Bank Secrecy Act compliance is a “safety and soundness” issue. To pass the test financial institutions are required to provide annual BSA training for appropriate personnel, including, but not limited to tellers, customer service representatives, lending officers and all other customer contact employees.

This program teaches:

• Currency transaction reporting,
• Exemptions from currency transaction reporting,
• Record retention requirements,
• Customer Identification Program requirements,
• Customer Due Diligence responsibilities,
• Money Services Businesses requirements,
• A review of money laundering methods, and techniques to recognize money laundering,
• OFAC responsibilities,
• Suspicious activity reporting requirements, and
• Penalties for non compliance.

In addition, BSA training must also include a “review of internal policies, procedures and processes”. A list of questions is provided to facilitate discussion of the bank’s program at the end of each topic in the manual.

Workshop Resources: This 2 hour and 31 minute presentation includes audio, video and a power point slide show. A detailed manual is available for download. It is suggested a copy be made for each person participating in the program.

Expected Audience: The seminar is designed for financial institution personnel who have BSA responsibilities, including tellers, customer service representatives, lending officers and all other bank personnel. It is suitable for new and experienced bankers. It is presented at the basic level.

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Speaker: Laura Wilsonis a principal with Pegasus Educational Services, LLC. She is a gifted trainer who proves learning can be fun. Audiences routinely comment that her recollection of material content and sense of humor are unique among presenters on technical topics. At one time she served as the regulatory compliance trainer for a $3 billion savings bank. Later, she was a senior consultant and full-time trainer for a regional consulting firm for financial institutions.

She has served on the faculty of the OTS’ Level I Compliance School and the FDIC’s Bank Operations and Compliance School for examiners. In addition to presenting seminars for seventeen state banking associations, she has been an instructor at compliance schools sponsored by the Iowa, Kentucky, Texas, and Pennsylvania bankers associations.

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