Registration Is Open for the League’s Bank Secrecy Act Conference

April 10, 2024 | ,

On May 23, the League will host a Bank Secrecy Act (BSA) Conference at the Credit Union Service Center in Westbrook. The conference will be facilitated by industry expert Kristen Tatlock with Aux®. The day’s comprehensive agenda will cover crucial compliance strategies, recent enforcement actions, and examiner expectations—all designed to help your credit union comply with anti-money laundering rules and regulations.

The fee to attend is $239; $179 for credit unions under $50 million in assets. To register, please visit the League’s website. If this training does not secure enough registered attendees, the League may need to change the date, move an in-person training to a virtual one, or cancel the class.

The topics and summary for the day’s agenda are outlined below:

  • BSA Hot Topics
    Stay abreast of the latest developments and emerging trends shaping the BSA landscape.
  • Completing SARs and CTRs – Getting It Right
    Learn the nuances of accurately completing Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs). Understand the critical components, reporting thresholds, the importance of strong SAR narratives, and best practices to ensure compliance while efficiently managing reporting requirements.
  • OFAC Compliance
    Navigate the complexities of Office of Foreign Assets Control (OFAC) regulations with confidence. Gain insights into effective screening processes, risk assessment methodologies, and proactive measures to mitigate sanctions-related risks.
  • Examiner Expectations and Focus
    Understand what regulators look for during BSA examinations, common areas of scrutiny, and proactive strategies to prepare your credit union for regulatory scrutiny effectively.
  • Recent Enforcement Actions – Learn from the Mistakes of Others
    Examine real-world case studies of recent enforcement actions and compliance failures. Analyze the root causes, regulatory implications, and lessons learned from these incidents, enabling you to fortify your credit union’s compliance framework and avoid similar pitfalls.
  • BSA/AML/OFAC Best Practices
    Discover proven best practices for enhancing BSA compliance and risk management. From customer due diligence to transaction monitoring, explore strategies for implementing robust controls, fostering a culture of compliance, and staying resilient in the face of evolving regulatory requirements.

For questions concerning this upcoming conference, please email Jordan Inkley, League Conference & Events Manager, at jinkley@mainecul.org.