BSA Requirements for Universal Bankers

Course Outline

Seat Time: 3.75hrs 

This course will introduce the learner to the requirements of the Bank Secrecy Act (BSA) and will offer detailed information regarding compliance with the BSA. The course will familiarize the learner with the Act itself, in addition to how, when, and why to file Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs). This course will also demonstrate how BSA requirements pertain to the role of the Universal Banker at the financial institution. 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. Bank Secrecy Act (BSA): 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. BSA/AML Compliance Program: This topic will provide the learner with characteristics indicative of an effective BSA/AML compliance program and identify multiple purposes they serve within financial institutions.

T3. Currency Transaction Reports (CTRs): This topic will inform the learner about the use of Currency Transaction Reports (CTRs), Bank Secrecy Act (BSA) definitions of currency transactions, multiple transactions, completing a CTR, CTR exemptions, exempt and non-exempt businesses, and designating CTR exemptions.

T4. Filing a CTR Overview and Demo: This topic will provide the learner with detailed information and graphics of a CTR and will demonstrate how to properly fill out a CTR.

T5. Completing a CTR Assessment: This topic will provide the learner with the opportunity to complete a CTR on their own using the provided information.

T6. Suspicious Activity Reports (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.

T7. Filing a SAR Overview and Demo: This topic will provide the learner with detailed information and graphics of a SAR and will demonstrate how to properly fill out a SAR.

T8. Completing a SAR Assessment: This topic will provide the learner with the opportunity to complete a SAR on their own using the provided information.

T9. Monetary Instrument Purchases: This topic will educate the learner about reporting detailed records of all cash purchases of monetary instruments to the government, the Bank Secrecy Act (BSA) definitions of money instruments, multiple purchases and transactions, and recording monetary instrument purchases.

T10. Funds Transfers: This topic will explain how funds transfers are essential tools of the global financial community, parties of transfer, using correspondent institutions, and funds transfer systems.

T11. Foreign Relations: This topic will enumerate the specific requirements set for by the Bank Secrecy Act (BSA) for relationships with foreign financial institutions, including correspondent foreign accounts, certification and recertification, verification of information, and examination procedures.

T12. Customer Identification Program (CIP): This topic will explain to the learner on the Bank Secrecy Act (BSA)-required Customer Identification Program (CIP) to help detect, identify, and prevent suspicious activity, CIP requirements, verifying a customerÆs identity, recordkeeping procedures, and customer notices.

T13. Money Services Businesses (MSBs): This topic will provide an overview of the MSBÆs role in remaining compliant with CIP requirements through following proper customer and document identification and recordkeeping procedures.

T14. 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.

T15. Universal Bankers: Your Role in BSA: This topic will familiarize the learner with his/her role as a universal banker at the institution in regard to ensuring compliance with the BSA.