BSA/AML - Compliance Program Requirements
The 9/11 terrorist attacks in the United States have led the international community to formulate new legislations and guidelines to counter the escalating risks of Money Laundering. Across nations, Anti-Money Laundering training and compliance requirements have therefore gained significance.
It is in this light that the American Congress brought about new measures in the form of International Money Laundering Abatement and Anti-Terrorist Financing Act, 2001(Title III of USA Patriot Act, 2001) that amended the Bank Secrecy Act, 1970 and its implementing Regulation. For financial institutions today, failure to comply with these requirements entails severe penalties in addition to increased exposure to compliance, reputational, strategic and operational risks.
- The process of Money Laundering, measures against money laundering and initiatives taken by various organizations to combat terrorism
- Comprehend the implications of offshore financial centers and non-cooperative countries on Money Laundering
- Understand the implications and penalties for non-compliance with Anti-Money Laundering legislations
- Due diligence measures undertaken by financial institutions to deter money laundering and terrorist financing
- Regulations applicable to banks
- Certain Principles that are to be adopted by the private banks to guard against money laundering
This course provides an overview of the contents of a Bank Secrecy Act (BSA) compliance program for state member banks and for branches, agencies, or representative offices of a foreign bank operating in the United States. It discusses the requirements for a system of adequate internal controls for BSA/anti-money laundering (AML) compliance, for independent testing of the BSA/AML compliance, for designating a BSA compliance officer, and for BSA/AML training.
Who is this course for?
Every professional involved in the global financial services industry (as a provider, user, regulator or advisor of product/services, marketplace/exchange) would benefit from KESDEE’s innovative solutions.
- Supervisory Agencies
- Central Banks
- Financial Institutions
- Commercial Banks
- Investment Banks
- Housing Societies/Thrifts
- Mutual Funds
- Brokerage Houses
- Stock Exchanges
- Derivatives Exchanges
- Insurance Companies
- Multinational Corporations
- Accountancy Firms
- Consultancy Firms
- Law Firms
- Rating Agencies
- Multi-lateral Financial Institutions
Questions and answers
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Do do provide any certificate after the completion of this course please?
Hello, Yes, KESDEE will award 'Certification of completion' once you finish the course library and score 70% in quizzes provided at the end of each course. This certificate acts as a proof for the enhancement of user's skills and knowledge in particular topic. No hard copies of certificates are provided. Best Regards, KESDEE support teamThis was helpful. Thank you for your feedback.
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