The Bank Secrecy Act or BSA requires financial institutions in the United States to assist US government agencies in detecting and preventing financial crimes such as terrorist financing, tax evasion, identity theft, different types of fraud, such as wire, loan, and elder fraud, structuring, account takeovers, human trafficking, funnel account activity, and more. Left unchecked, money laundering can erode the integrity of our financial institutions. This course will identify red flags that can help bank employees recognize possible illegal activity and provide the latest industry trends and issues related to the Bank Secrecy Act and Anti-Money Laundering laws. This course is intended for all bank personnel.
Learning Objectives:
- Understand what money laundering is and the government agency working to stop the activity
- Identify red flags that indicate activities that may be associated with illegal activity
- Know what to do if you encounter a red flag
Course Outline:
- Introduction
- What is Money Laundering
- Common Red Flags
- Emerging Red Flags
- Conclusion
Rev–Mar. 2021. Course length ≈ 25 minutes.
This course is worth 0.5 CPE credit.
