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Bank Secrecy Act Basics

Prime 5.0

Created by   HSI - Health & Safety Institute

Category   Accounting/Finance   >   Other

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Duration 36 minutes
Audience Employees

Description

In these programs, we're going to look at the critical information you need to know about what your obligations as a bank employee are and how you can avoid the penalties that come with non-compliance.

What you'll learn

Obligations as a bank employee

Money Laundering

Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulations

more

System Requirements

• Windows 7 and newer
• Mac OS 10 and newer
Supported Browsers:
The current and previous major releases of the following browsers
• Safari v11 and higher
• Firefox v65 or higher
• Chrome v70 and higher
• Microsoft Edge v42 and higher
• Internet Explorer v11 and higher (Windows only- may exhibit visual differences from other
browsers)
Computer Speed and Processor:
• Use a computer 5 years old or newer when possible.
• 1GBofRAM
• 2GHz processor

Languages

English

Skills you'll gain

banking Bank section one bank secrecy basics section one bank secrecy basics HSI-ej4

Details to know

Certificate
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Bank Secrecy Act Basics

Bank Secrecy Act Basics: 01. Overview of the Bank Secrecy Act
Bank Secrecy Act Basics: 01. Overview of the Bank Secrecy Act
Congress passed the Bank Secrecy Act in 1970 with the intent to combat money laundering in the U.S. Throughout the years, several additional regulations have passed to continue this mission. This collective group of laws that outline the bank's obligations to prevent money laundering are commonly known as BSA/AML, which refers to Bank Secrecy Act and Anti-Money Laundering. In this course, we'll talk about how the history of the Bank Secrecy Act and how it has evolved. We'll discuss who the BSA/AML regulations apply to and who is in charge of enforcing these laws.
Bank Secrecy Act Basics: 02. Money Laundering 101
Bank Secrecy Act Basics: 02. Money Laundering 101
When the U.S. government started to track large cash transactions, criminals responded by developing ways to hide the true source of their money flow, also known as money laundering. Money laundering is the process of making illegally gained funds appear to be legal. Illegally gained funds are often referred to as "dirty money." That's where the term "laundering" comes from; turning dirty money into clean money. In this program, we'll talk about the basics of money laundering. Then, we'll go over how it works, how it impacts the economy, and what the U.S. is doing to put a stop to it.
Bank Secrecy Act Basics: 03. Components of a Money Laundering Operation
Bank Secrecy Act Basics: 03. Components of a Money Laundering Operation
Money laundering can be a very shady and hard-to-identify criminal scheme. It's important to understand the basic structure of a money laundering operation, so you can recognize when it's happening. All money laundering schemes have three elements: placement, layering, and integration. In this program, we'll talk through these three stages so that you're able to identify criminal activity when it occurs. We'll also discuss what to do if you suspect that money laundering is taking place in your financial institution.
Bank Secrecy Act Basics: 04. Requirements and Purpose of the Bank Secrecy Act
Bank Secrecy Act Basics: 04. Requirements and Purpose of the Bank Secrecy Act
The Bank Secrecy Act established a robust set of regulations for banking institutions, including the requirement that every financial institution establish a BSA compliance program to deter illegal money laundering activity. The act also created a pathway through which law enforcement can investigate these types of crimes. In this course, we'll explore the five main components of the BSA/AML program requirements and go over who is responsible for leading the effort.
So What's the Big Deal?
So What's the Big Deal? So, what's the big deal? Is anyone really hurt by money laundering? Shouldn't we be focused on preventing the crimes that produced the dirty money rather than the attempts to cover up the crime after the fact? As we'll see in this course, when it comes to money laundering, it's not so simple and clear-cut.
Manipulating the System
Manipulating the System In this program we're going to discuss the events that led to a major overhaul of Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulations in 2001. In the other courses in this series, we've looked at how AML laws were developed to stop dirty money from entering the banking system. Some of the most significant changes to a bank's AML program have been a result of the passage of the USA PATRIOT Act, passed in direct response to the 9/11 attacks.

HSI - Health & Safety Institute

Making the Workplace Safer and Smarter
HSI (Health & Safety Institute) is a recognized leader in Environmental, Health and Safety (EHS) and workforce development software, training, and compliance solutions.
HSI is your single-source partner for EHS, Compliance, and Professional Development solutions. HSI provides integrated e-learning content, training solutions, and cloud-based software designed to enable your business to improve safety, operations, and employee development. Across all industries, we help safety and technical managers, human resources, first responders, and operational leaders train and develop their workforce, keep workers safe, and meet regulatory and operational compliance requirements. We are a unique partner that offers a suite of cloud-based software solutions including learning management, safety management, chemical SDS management, and more, integrated with our content and training so businesses can not only monitor and manage multiple workflows in one system, but train employees via one partner.
Price per license
$20.00
No. of licenses
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$20.00
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