AML/BSA Basics, Compliance and Current Issues
  • CODE : JIGE-0005
  • Duration : 60 Minutes
  • Level : Intermediate
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Jim George is an independent consultant to banks focusing on issues of identity, AML, Know Your Customer issues, and fraud. He brings over 25 years as a consultant to major banks in Associate Partner and Principal roles at PricewaterhouseCoopers Consulting, IBM Consulting in Bank Risk and Compliance, and Andersen Consulting. Jim’s work has included projects in customer identity, fraud loss reduction, AML regulatory compliance (including KYC and CDD), and detection systems. He was a member of a Justice Department Interagency AML Taskforce in Miami, Florida.

Money laundering continues to be a national concern. High levels of drug-related activity and violence have drawn additional attention. Terrorist activities need to be considered as well. Perpetrators have adapted to banks’ efforts so banks cannot combat the money laundering with yesterday’s methods. The software is widely installed to identify specific patterns and “unusual” transactions. But the launderers know this and are constantly striving to create new patterns where their transactions are designed not to be flagged. Like in a game of chess, the advantage goes to the side that thinks the most moves ahead.

This webinar will provide valuable assistance to all personnel with AML responsibilities in banks or other financial institutions:

  • Compliance with regulatory requirements
  • Designing controls and compliance
  • Detecting money laundering attempts
  • Managing the Investigating of AML alerts
  • Analyzing controls improvement options
  • Understanding money launderers’ strategies and techniques

Areas Covered    

  • The Bank Secrecy and USA PATRIOT  Acts
     o Know Your Customer (KYC)
     o Currency Transaction Reports (CTRs)
     o Suspicious Activity Reports (SARs)
     o New Customer Due Diligence requirements
     o Steps are specifically required by the regulations
     o Analytic engines
  • Compliance problems and Issues
  • Current issues
    o AML and Fraud overlaps
    o Adaptation by perpetrators
    o False Positive Problem
    o Money Laundering Strategies and Techniques
    o Bitcoin

Course Level - Basic and Intermediate

Who Should Attend   

  • Fraud
  • Compliance and AML area   
  • VP
  • Manager
  • Director
  • Supervisor levels

Why Should  Attend

Many people with AML responsibilities will work with only a few confirmed cases in money laundering in their career. Few will set-up or substantially redesign more that one AML program. Jim’s work has included projects in AML investigation, AML prevention, AML regulatory compliance, and detection systems. He was a member of a Justice Department Interagency AML Taskforce in Miami, Florida. So he will bring you a perspective that goes beyond following the required compliance steps, reflecting extensive hands-on work from many points of view.

  • $149.00

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