BSA/USA Patriot Act for Compliance Professionals
Course Number: ABA
Course Code: n/a
Builds the customer identification and due diligence process for specific types of accounts believed to pose increased risks of money laundering and terrorist financing. Explains how the USA PATRIOT Act affects sharing of certain types of information between financial institutions and law enforcement officials.
After completing this course, students will be able to:
-Explain the importance of a risk assessment program
-Describe the purpose and significance of the customer identification program
-Discuss your bank’s customer due diligence policies, procedures and processes
-Explain the requirements for suspicious activity reporting
-Identify currency transaction reporting requirements and the two categories of exemptions
Audience: Compliance and risk management professionals including compliance managers, officers, and other team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, and auditors.