As threats of financial crimes continue to grow, enforcement actions under the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) remain to have a significant impact and implication on future regulations. Recently, the Office of the Comptroller of the Currency (OCC) released its 2020 bank supervision operating plan that sets forth its supervisory strategies and objectives regarding BSA/AML compliance. Through the plan, the agency asserted its priority on customer due diligence and beneficial ownership, specifically by “determining whether BSA/AML risk management systems match the complexity of business models and products offered, evaluating technology solutions to perform or enhance BSA/AML oversight functions, and assessing the adequacy of suspicious activity monitoring and reporting systems and processes.”
These changes provide a crucial need for financial institutions to update and enrich their AML program, meet compliance obligations, and avoid potential risks and pitfalls.
In this LIVE Webcast, regulatory compliance experts, Susrut Carpenter (BakerHostetler) and Maureen Kiedaisch (FTI Consulting), will present an in-depth review and analysis of the recent trends and developments in the BSA/AML landscape. They will provide the audience with practical tips and best compliance strategies in ensuring maximum compliance in the midst of a rapidly evolving legal climate.
Some of the major topics that will be covered in this course are:
- Overview of BSA/AML Bank Supervision Operating Plan
- Recent Trends and Updates
- Legal Risks and Issues
- Practical Tips and Strategies
- Best Compliance Practices
- What Lies Ahead