Standard training session (online)

Standard training session (online)

Online training session delivered by a certified BSA/AML specialist

What’s included?
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3h online training session
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Q & A
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training materials
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online quiz
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attendance records

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Choose the product that's right for you. We offer different plans based on your organization size and complexity.

$ 1,500 USD

Our online BSA/AML training session is designed to effectively educate your team on all relevant BSA/AML topics. The training is structured to help your team understand the applicable BSA/AML requirements and provide guidance on how to stay compliant.

The training is structured in the following format:

  1. What are money laundering and terrorism financing?
    • description of the three stages of money laundering
    • difference between money laundering and terrorism financing
    • recognizing and reporting money laundering and terrorism financing
  2. Predicate offences and their relationship with money laundering and terrorism financing
  3. Regulatory framework and consequences of non-compliance
    • A brief overview of relevant laws and regulations, including the USA PATRIOT Act, the Bank Secrecy Act and FINRA Rule 3310
    • Updates on current developments and changes in regulations.
    • Consequences of non-compliance
  4. What is an ML/TF Risk Assessment, and how do you perform an ML/TF Risk Assessment?
    • risk categories
    • risk factors
    • inherent vs. residual risk
    • practical examples
  5. Description of the structure and content of a BSA/AML Program
  6. ML/TF mitigation controls
    • The role of the BSA/AML compliance function and the responsibilities of personnel.
    • Customer due diligence (CDD) & practical examples
    • Beneficial ownership requirements for legal entity customers
    • PEPs and Sanctions checks
      • Office of Foreign Assets Control (OFAC) compliance program
    • Enhanced customer due diligence (ECDD) and ongoing customer due diligence (OCDD)
    • Employee due diligence Transaction monitoring
    • Record-keeping
    • Reporting
      • Suspicious Activity Report (SAR)
      • SAR quality guidance
      • Requirements for no-tipping off
      • Currency Transaction Report (CTR)
      • International Transportation of Currency or Monetary Instruments (CMIR)
    • Employee training
    • Internal and independent testing (audits)