ALEXANDRIA, Va. – Credit unions with questions about complying with customer due diligence requirements in the Bank Secrecy Act can get valuable information during a webinar hosted by NCUA’s Office of Credit Union Resources and Expansion (CURE) on April 25.
In announcing the webinar, NCUA noted the Financial Crimes Enforcement Network in 2016 issued a final rule updating the Bank Secrecy Act’s requirements for effective BSA and anti-money-laundering programs. The webinar, “BSA Compliance – Customer Due Diligence,” will address these requirements for credit unions, NCUA said.
The 60-minute webinar is scheduled to begin at 2 p.m. ET. Online registration is available here.
The webinar panel—Sandra Sojka, a regulatory policy officer with FinCEN’s Policy Division; Janet Carruthers, a fraud and risk analysis specialist with NCUA’s Office of Examination and Insurance, and Andre Lucas, the director of compliance, Maryland/District of Columbia Credit Union Association—will review the basic requirements of the 2016 rule, including:
- Reducing compliance and reputation risk with ongoing member due diligence
- Enhancing risk-based procedures by including timely and accurate SAR reporting
- Improving the overall BSA/AML program with specific procedures
Questions can be submitted in advance at WebinarQuestions@ncua.gov. The email’s subject line should read, “BSA Compliance – Customer Due Diligence.” This webinar will be closed captioned and then archived online here approximately three weeks following the live event.
NCUA said the Bank Secrecy Act webinar is the first of five webinars its Office of Credit Union Resources and Expansion will host in the coming months. Topics include: the agency’s streamlined community development financial institutions certification program, 2018 grant initiatives, and Share Insurance calculations. Details about each webinar will be available in the near future, NCUA said.