BSA Requirements for RMLOs

Course Outline

Seat Time: 1hrs 

This course will introduce the learner to the role of the RMLO in ensuring that s/he remains compliant with all aspects of the Bank Secrecy Act in everything that s/he does at the institution. The course will familiarize the learner with the Act itself, in addition to how, when, and why to file CTRs and SARs, in addition to how to apply BSA requirements to other aspects of the institution’s operations. After completing this course, the learner will understand:

• How to complete and file a CTR and a SAR.
• How to maintain an effective Customer Identification Program (CIP).
• How the USA PATRIOT Act affects BSA requirements.

Course Topics

T1. RMLOs and Bank Secrecy Act: This topic will educate the learner on the recent progress of money laundering detection and prevention, the purpose of the Bank Secrecy Act (BSA), and information regarding the penalties for violating the BSA.

T2. RMLOs and SARs: This topic will inform the learner on reporting suspicious activity, when to file a Suspicious Activity Report (SAR), examples of suspicious situations, completing a SAR, exceptions, and confidentiality of SARS.

T3. RMLOs and USA PATRIOT Act: This topic will educate the learner on the provisions and background of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act, amendments to the Bank Secrecy Act (BSA), primary money laundering concerns, and the reauthorization of the USA PATRIOT Act.

T4. RMLOs: Your Role in BSA: This topic will familiarize the learner with the responsibilities of the RMLO in anti-money laundering and will provide the learner with a list of questions the staff should keep in mind.