BSA/AML: Recordkeeping - Wires, Money Orders, and Other Challenges
Course Number: ABA
Course Code: ABA
Describes information the bank retains for wire transfers, and the travel rule and the information the originator’s bank obtains and transmits for transactions. Explores the record-keeping requirements for direct and indirect purchases of monetary instruments, and for extensions of credit, lending products, and other types of transactions.
After completing this course, students will be able to:
-Recognize bank record-keeping requirements for wire transfers
-Explain the record-keeping requirements for monetary instruments
-Describe record-keeping requirements for an extension of credit and other BSA transactions—including, FINCEN 314(a) and (b)
Audience: Employees involved with originating or disbursing wire transfers, selling negotiable instruments, opening accounts or taking loan applications, and responsible for record retention.