Bank Secrecy Act: BSA and Compliance Officers

The Bank Secrecy Act (BSA) is one of the main tools the Federal Government uses to combat financial crimes and terrorist activity. The BSA requires banks to assist in preventing crime by enacting sound policies regarding reporting, recordkeeping, and monitoring of potentially criminal activity. The BSA requires the Board of Directors to appoint a Bank Secrecy Officer. It is important that the Bank Secrecy Officer be well versed in the Bank Secrecy Act in order to implement a compliance BSA/AML program. This course will provide Bank Secrecy Officer and other BSA/compliance personnel with the training they need to effectively create and manage their bank's program.

The Bank Secrecy Act mandates that ALL bank personnel receive annual Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) training. Regulators are continually committed to stronger and more aggressive administration of BSA/AML laws and regulations.

Course Learning Objectives

By taking this online Bank Secrecy Act: BSA and Compliance Officers course, the user will learn to:

• Implement an effective BSA/AML Compliance Program
• Identify when you should complete a report as required by the Bank Secrecy Act, such as a Suspicious Activity Report or a Currency Transaction Report
• Explain and comply with the recordkeeping requirements of the Bank Secrecy Act
• Properly follow the required procedures for gathering customer identification
• Monitor a customer’s account for suspicious activity
• Perform reviews on customers and transactions against various lists provided by government agencies  
• Know the latest trends in the Bank Secrecy Act compliance arena

Course Outline

This online Bank Secrecy Act: BSA and Compliance Officers course is made up of the following sections:

1. BSA/AML Compliance Program
2. Risk Assessment
3. Other BSA Requirements
4. Currency Transaction Reports
5. Monetary Instrument Recordkeeping
6. Customer Identification Program
7. Customer Due Diligence
8. Suspicious Activity Reporting and Monitoring
9. OFAC and 311 Special Measures
10. Information Sharing
11. Hot Topics

Course Audience

This Bank Secrecy Act: BSA and Compliance Officers online training course was designed for bank employees.

If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.