Monitoring High Risk Transactions

This BSA/AML (Bank Secrecy Act/ Anti Money Laundering) compliance training will help attendees understand, identify and mitigate the risks associated with high risk transactions. Why Should You Attend: An effective BSA/AML compliance program controls risks associated with the institutions products, services, customers, entities, and geographic locations; therefore, en effective risk assessment should be an ongoing process, not a one-time exercise. Monitoring your risks includes monitoring your transactions, especially your high risk transactions. Per the FFIEC Manual: The development of the BSA/AML risk assessment generally involves two steps: first, identify the specific risk categories (i.e., products, services, customers, entities, transactions, and geographic locations) unique to the institution: and second, conduct a more detailed analysis of the data identified to better assess the risk within these categories. Several examples of a system of internal controls will help you document your monitoring program. Areas Covered in the We binar: Resources. Accessing the data: What are the obstacles? Core system, teller system, BSA monitoring program, etc. How did the activity occur? In person, telephone, internet, wire, ATM, or ACH. Sample risk assessment for products and services. Systems of internal controls. Managing Non Resident Aliens. Documenting and Monitoring a Cash In and Cash Out Report. Who will Benefit: Financial Officers Bank Secrecy Act Officers Front Line Staff Risk Officers Operational Managers

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