BSA Reporting Requirements
09-January-2025 :03:00 PM EST Duration : 60 Minutes
BSA regulations require all financial institutions to submit five types of reports. Individuals or companies must file an individual filing requirement. We will go over more details later on in this presentation. They are:
• Currency transaction reports (CTR)
• Suspicious Activity Report (SAR)
• Foreign financial accounts (FBAR)
• Currency and Monetary Instrument Report (CMIR)
• Designation of Exempt Person
Why Should You Attend:
The Bank Secrecy Act of 1970 (BSA), also known as the Currency and Foreign Transactions Reporting Act, is a U.S. law requiring financial institutions in the United States to assist U.S. government agencies in detecting and preventing money laundering.
The BSA is the nation's first and most comprehensive Federal anti-money laundering and counter-terrorism financing (AML/CFT) statute. BSA authorizes the Secretary of the Treasury to issue regulations requiring banks and other financial institutions to take a number of precautions against financial crime, including the establishment of AML programs and the filing of reports that have been determined to have a high degree of usefulness in criminal, tax, and regulatory investigations and proceedings, and certain intelligence and counter-terrorism matters.
Course Outline:
• Overview and Background
• Reporting
• Regulatory implication
• Takeaways
What You Get:
• Training Materials
• Live Q&A Session with our Expert
• Participation Certificate
• Access to Signup Community (Optional)
• Reward Points
Who Will Benefit:
• Directors of the Institution
• Managers of the Institution
• Risk Managers
• BSA/OFAC Officers
• Compliance Officers
• Audit Staff
• BSA/OFAC Staff
• Internal Auditors
• Staff with roles and responsibilities in BSA / AML management and oversight
• Money Service Business BSA/AML Officers
• Corporate Audit
Please reach us at 1-888-844-8963 for any further assistance or if you wish to register
