Welcome to the Compliance Cohort. We are a group of compliance professionals working to make compliance easier. Our goal is to take complex compliance concepts and put them in simple terms that apply to the real world. We are glad you have found us and look forward to collaborating in the future.
If you haven't done so already, make sure you sign up for our free membership where you get access to many member-only videos, articles, and other resources.
BSA employees have many challenges. They have time-sensitive reports that must be filed on an ongoing basis. They have front line employees who do things that create errors and additional challenges for their team. They have complex rules and regulations they must follow. And, they have to deal with ongoing changes to these rules and regulations.
While many of the long-time BSA/AML rules continue to stay the same, regulator expectations for BSA/AML programs do continuously evolve. Examiners seem to have greater and greater expectations for BSA programs, and the result of this is that BSA/AML rules for financial institutions continue to change.
This means that BSA team members must ensure they identify - and then effectively implement - any BSA/AML changes that apply to their financial institution.
In fact, examiners actually have an expectation that BSA employees receive regular training to keep them up-to-date with BSA/AML changes. Specifically, the FFIEC BSA Exam manual provides the expectation that “the BSA compliance officer and BSA compliance staff should receive periodic training that is relevant and appropriate to remain informed of changes to regulatory requirements and changes to the bank’s risk profile.”
And this is exactly why we have created our BSA Annul Update training program.
Our BSA Annual Update provides video-based training on the BSA and AML activity that took place over the last year, including guidance from FinCEN and other regulatory agencies. While most BSA officers will already be aware of many of the changes, this program can essentially act as a review (or a checklist of sorts) to ensure that all applicable information was appropriately received and implemented within the organization. At the end of the day, our BSA Annual Update is a great way to show regulators that your BSA team is receiving training that helps them “remain informed of changes to regulatory requirements,” as expected in the FFIEC BSA Exam manual.
This program would be good for BSA officers, BSA team members, auditors, compliance officers, management, and anyone else wanting to stay up-to-date on BSA/AML rules and activity.
NOTE: We are currently offering a BSA Annual Update twice a year. As this is an “annual” program that covers a year’s worth of material, attendees don’t need to attend both programs, but rather can choose to be part of either our Spring Cohort or our Fall Cohort. In other words, those who attended our Spring 2023 BSA Annual Update last year, will be able to attend our Spring 2024 BSA Annual Update without missing any activity.
4.25 CRCM, CAFP, CERP credits. ABA Professional Certifications is dedicated to promoting the highest standards of performance and ethics within the financial services industry. The BSA Annual Update (Spring 2024) has been approved for 4.5 CRCM, CERP, CAFP credits. This statement is not an endorsement of this program or its sponsor. Certification holders must report these credits at aba.csod.com.
“EARLY BIRD” PRICE: $329 (Regular: $399)
Get additional discount for one additional attendee. The total cost will be the current price (regular or discounted) for the first attendee plus $129 for the second attendee. (Click the second button below to avail this discount.)
NOTE: If you would like to demo this class before you purchase it to make sure it's what you are looking for, just let us know and we can work something out.
The class is presented in multiple videos and covers the following topics. Constraints of the program and perceived applicability to attendees, some topics will be reviewed in greater details than others.
VIDEO 1: Activity from April 1, 2023 to June 30, 2023 (26 min)
FinCEN Renews and Expands Real Estate Geographic Targeting Orders
FinCEN’s Publishes Its 2022 Year in Review
Treasury Announces 2023 De-Risking Strategy
FinCEN and BIS Issue Alert for Potential Russian Export Control Evasion Attempts
FinCEN Issues Updated FATF Deficient Countries
And more….
NOTE: This is the same video that was included in the Summer 2023 Quarterly Compliance Update.
VIDEO 4: Activity from July 1, 2023 to September 30, 2023 (43 min)
SEC Takes Action Against Merrill Lynch and BACNAH for Failing to File SARs
FinCEN Hosts Public and Private Exchange to Combat Fentanyl Trafficking and Human Smuggling
FRB Issues Consent Order Against Deutsche Bank AG
FinCEN Officials Meets with Mexican Counterparts to Discuss Illicit Finance Trends Associated with Fentanyl
FinCEN Issues Alert on “Pig Butchering” Scam
And more….
NOTE: This is the same video that was included in the Fall 2023 Quarterly Compliance Update.
VIDEO 3: Activity from October 1, 2023 to December 31, 2023 (41 min)
FFRB Fines Metropolitan Commercial Bank for BSA Violations
FinCEN Proposes New Rule to Enhance Transparency in CVC Mixing and Combat Terrorist Financing
FinCEN Renews and Expands Real Estate Geographic Targeting Orders
FinCEN Issues Alert Regarding Hamas’ Terrorist Activities
FinCEN Issues Updated FATF Deficient Countries
And more!
NOTE: This is the same video that was included in the Winter 2024 Quarterly Compliance Update.
VIDEO 4: Activity from January 1, 2024 to March 31, 2024 (44 min)
FinCEN Begins Accepting BOI Reports
FinCEN Analysis of Identity-Related Suspicious Activity
FinCEN Updates its Paycheck Protection Program FAQs
FinCEN Requests Comments for BOI Requests
FinCEN Fines an AML Officer $100,000 for BSA Violations
And more!
NOTE: This is the same video that will be included in the Spring 2024 Quarterly Compliance Update.
VIDEO 5: BSA Exam Manual Changes (49 mins)
1 - Special Information Sharing Procedures to Deter Money Laundering and Terrorist Activity
2 - Due Diligence Programs for Private Banking Accounts
3 - Due Diligence Programs for Correspondent Accounts for Foreign Financial Institutions
4 - Prohibition on Correspondent Accounts for Foreign Shell Banks; Records Concerning Owners of Foreign Banks and Agents for Service of Legal Process
5 - Summons or Subpoena of Foreign Bank Records; Termination of Correspondent Relationship; Records Concerning Owners of Foreign Banks and Agents for Service of Legal Process
6 - Reporting Obligations on Foreign Bank Relationships with Iranian-Linked Financial Institutions
““Compliance Cohort delivers BSA/AML material in an easy-to-follow manner. The presenter adds clarity to regulations, practical solutions, and best practices. The material is current and broken down into segments that fit into the schedules of busy bankers. The accompanying manuals are excellent and well planned. The presenter does not read to the students, they focus on highlights which allows the student to read the remaining sections. The presenter adds levity to the delivery of the material.””
This Compliance Class can be completed without leaving your office and provides you with everything you need to know about what BSA related activity took place during the prior year.
The class includes the following:
A comprehensive manual
A “virtual classroom” instructional video
60-day access to the class
Certificate of completion (1 per registration - available upon request)
All of our Compliance Classes are presented in our virtual classroom approach. This approach is designed to bring the presenter to you (at a fraction of the cost of having a live person) and includes a video of the presenter in front of a slide presentation that replicates a typical seminar environment. In addition, our presenters take a three-part approach to compliance instruction: to educate, to empower, and to entertain. This is achieved by focusing on relevant topics, speaking in simple to understand, layman's terms, and by keeping it light and humorous whenever possible. We have found that this "3-E" approach allow students to learn as quickly and effectively as possible. And, it adds a little bit of fun to an otherwise dreadful topic.
Certificates of completion are available upon request. One certificate is available per registration.
When you purchase this compliance class, you get instant access to the online version of this class for 60 days. You will also receive an electronic version of the accompanying manual to keep.
We believe in our training products so much that we are offering a 100% money back guarantee within the first 10 business days after purchase. If you do not feel that you received the value promised for this training session, contact us within the first 10 business days after purchase and we will either make things right or provide 100% of the purchase price back to you.
