The Bank Secrecy Act requires financial institutions in the United States to assist U.S. government agencies in detecting and preventing financial crimes, including money laundering and terrorist financing. Frontline staff, who open accounts, accept deposits, and facilitate fund transfers, need to know how the BSA affects those functions. Frontline Essentials consists of four short courses that can be taken separately or together. There is a test at the end of each course.
This course includes an examination.
- Recognize signs of potentially suspicious transactions and customer activity
- State when a Currency Transaction Report should be filed
- List the information that must be collected and verified when a new account is opened
- State the purpose of an OFAC compliance program
- Suspicious Activity Reports (SARS) (8723EN)
- Currency Transaction Reports (CTRs) (8724EN)
- Customer Identification Programs (CIPs) (8725EN)
- OFAC Compliance (8726EN)
8723EN 8724EN 8725EN 8726EN