Printable_BrochureTime is running out…current law requires your bank must develop and implement a Regulation GG compliance program
Regulation GG and a parallel set of regulations from the Department of Treasury implement and interpret the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA). The regulations took effect on January 19, 2009 and compliance is mandatory on December 1, 2009.
The law and regulations require every bank to develop policies reasonably designed to identify and block or otherwise prevent restricted transactions. Compliance will be reviewed in on-site examinations by federal functional regulatory agencies. The compliance mechanisms are to focus on deposit activity in connection with commercial accounts. All banks that use the ACH, card, check collection and wire transfer systems are affected and each must develop relevant policies and procedures.
> The presentation focuses on:
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Commercial accounts and unlawful Internet gambling
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Developing required policies related to unlawful Internet gambling
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Customers that present a minimal risk of engaging in an Internet gambling business
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Due diligence for new commercial customers
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Mailing notices to existing commercial customers
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Documenting legal Internet gambling
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Developing procedures for dealing with illegal Internet gambling
Sample Policies and Procedures: Program materials include a number of sample policies and procedures. The samples are not "one size fits all" examples that every financial institution can adopt as its own. They are teaching tools that are intended to illustrate that the bank must take number of elements into consideration in the design of its internal documents. (Attendees at Ken's webinars are always very complimentary of the sample documents and language he includes in his materials.)
Workshop Resources: This 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. For questions after the program a question and answer forum is provided as a part of the course. All questions are answered by the speaker and available to anyone purchasing the program. Running Time: 1 hour 39 minutes
Expected Audience: Expected attendees are officers and auditors employed by banks, thrifts and credit unions who are responsible for building or evaluating a Regulation GG compliance structure. Depending on where these compliance responsibilities rest in your institution, those who should attend might be the compliance officer, security officer, Bank Secrecy Act Officer, or auditor.
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Speaker: Ken Golliher is a principal with Pegasus Educational Services, LLC. He is an experienced banker with a unique ability to reduce complex legal concepts to plain English. He has explained the "why" and "how" of regulations to thousands of financial institution personnel and examiners. Ken's banking career began in 1972 and includes serving as a teller, commercial operations manager and as trust department legal counsel in a state and a national bank. |
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