Bank Secrecy Act Self-Study Training

Course Snapshot
Take a close look at the requirements of BSA and the Customer Identification Program (CIP); receive an overview of the Office of Foreign Assets Control (OFAC) and the PATRIOT Act; review policy requirements and examples of noncompliance; identify the penalties that regulators could potentially impose on your credit union; review CTR and SAR filing requirements and much more.

Why it Matters
NCUA and state examiners are committed to enforcing the Bank Secrecy Act (BSA), so complying with the regulation should be a top priority for every credit union. Get the information you need to ensure your training requirements have been met before your examiner walks in the door.

What You Will Learn

  • Identify, Understand, and Mitigate Money Laundering Risks: Assess the importance of identifying, understanding, and mitigating money laundering risks, demonstrating proficiency in applying risk assessment methodologies.
  • Navigate Latest Updates to CDD Rules and Beneficial Owners: Explain the most recent updates to Customer Due Diligence (CDD) rules and understanding the intricacies of beneficial ownership, ensuring compliance with regulatory changes.
  • Execute Monitoring for Currency Transaction Reports and Suspicious Activity Reports: Achieve competence in monitoring processes to complete Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs), demonstrating the ability to implement effective monitoring systems.
  • Analyze the Impact of FinCEN, FAC, and the USA Patriot Act on Credit Unions: Gain the knowledge and skills necessary to analyze how the roles of the Financial Crimes Enforcement Network (FinCEN), Financial Action Task Force (FAC), and the USA Patriot Act impact their credit union, ensuring compliance with relevant regulations.
  • Implement Effective Customer Due Diligence Practices: Understand the significance of customer due diligence and implement appropriate policies and procedures, showcasing the ability to establish and maintain effective customer due diligence practices.
  • Evaluate Money Laundering Techniques: Demonstrate the ability to review and evaluate various money laundering techniques, enhancing the learner's capacity to recognize and address potential threats in a real-world financial context.
  • Understand Penalties and Enforcement Actions for Non-Compliance: Acquire knowledge of penalties and enforcement actions for non-compliance, enabling participants to proactively address and mitigate risks associated with BSA violations.

Recommended for
This session is for frontline staff who deal directly with credit union members and their transactions. This includes, but is not limited to: Tellers, branch managers, loan officers, member service representatives, IT and marketing staff. Credit Union volunteers may also attend this session to satisfy NCUA requirements.

What You Get

  • Learn at your own pace with training that is 100% online
  • Satisfy Annual NCUA requirements
  • Downloadable certificate of completion 

Time to Complete
Approximately 3.5 hours

Key:

Complete
Failed
Available
Locked
Before You Get Started
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BSA Self-study | Module 1: History of BSA and Money Laundering
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BSA Self-Study | Module 2: Training and Risk Assessments
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BSA Self-Study | Module 3: Internal Controls
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BSA Self-study | Module 4: Currency Transaction Reporting and Suspicious Activity Reporting
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BSA Self-Study | Module 5: Enforcement Agencies and Regulatory Bodies
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BSA Self-Study | Module 6: Financial Crimes Enforcement Network
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BSA Self-Study | Module 7: Penalties and Enforcement Actions
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Qualified Assessment
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Certificate of Completion
5 CPE credits  |  Certificate available
5 CPE credits  |  Certificate available
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Glossary
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Resources
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Pricing

$195/per person  Credit Unions $50M and above
$95/per person Credit Unions $50M and below

Course Access
Access to the self-study program is valid for 12 months from the date of first access. Additionally, program access is granted to the original purchaser only. If registration was completed on an individual's behalf, then the registrant is granted sole access to the program.

CU Foundation Training Discount
Credit unions affiliated with the MD|DC Credit Union Association with assets of up to $150M are eligible for training grants from the Credit Union Foundation of MD|DC. For more information & to apply, please click here.

Earn Continuing Professional Education Credits!

MD|DC Credit Union Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Participants will earn 4.5 CPE credits
In order to be awarded the full credit hours, you must complete all modules, review questions and earn at least 70% on the qualified assessment.

Field of Study: Specialized Knowledge

Additional Information

Prerequisites: None

Who should attend: This session is for frontline staff who deal directly with credit union members and their transactions. This includes, but is not limited to: Tellers, branch managers, loan officers, member service representatives, IT and marketing staff. Credit Union volunteers may also attend this session to satisfy NCUA requirements.

Advanced Preparation: None
Program Level: Basic Delivery
Delivery Method: Self-study

Cancellation Policy

To cancel a registration, the attendee must send a request in writing by email to the Training and Education department at chunter@mddccua.org. A refund or credit will be made if the course component has never been viewed or accessed by the registrant. No refunds or credits will be made if the course component has been viewed or accessed.


Complaint Resolution Policy:
For more information regarding MD|DC CUA training policies, including cancellation or complaints, please contact Chrystal Hunter, Training & Events Manager at 443-325-0772.