Now that we have an executive order and an action plan to develop a centralized digital bank, what should we be doing and what will this stream of money look like down the road? During this program we will look at management’s choices today in the journey to digital.
Archives
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Cryptocurrency
Now that we have an executive order and an action plan to develop a centralized digital bank, what should we be doing and what will this stream of money look like down the road? During this program we will look at management’s choices today in the journey to digital.
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Cybercrime
During this video the cannabis business and all its implications will be covered. What is the risk of adding a MRB or HRB account holder to your institution’s portfolio. What does the financial institution have to do or know? Learn more.
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Marijuana and Hemp Related Businesses
During this video the cannabis business and all its implications will be covered. What is the risk of adding a MRB or HRB account holder to your institution’s portfolio. What does the financial institution have to do or know? Learn more.
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Red Flags for Money Laundering
Red Flags for money laundering and many other crimes are issued by FinCEN (US Treasury) and followed by our financial institution to identify crime. Learn some of the basic red flags that we look for and what they mean and what action our institution might take.
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Preventing Human Crimes
Our role in the financial institution is to prevent financial crimes. This can encompass many human crimes like human trafficking, human smuggling, elder fraud and more. Our anti-money laundering programs including technology are getting good at generating alerts for this type of activity. Learn more about the financial institution’s role.
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Recordkeeping
Two huge pieces of recordkeeping—the monetary instruments and funds transfers. It is an older part of the BSA program and serves as a deterrent to criminals who would prefer their identities to be kept secret. During the Talk, our directors will learn how this works in our BSA program.
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Suspicious Activity Reports
The backbone of BSA, the SAR starts with alerts and then into investigations, then to SAR. It is often a complex and confidential process of identifying suspicious transactions for the financial institution. Learn how this decision making process works and how the financial institution contributes to preventing financial crimes.
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Currency Transaction Reports
We file both CTRs and SARs in our reporting piece of BSA. The CTR is the oldest piece of BSA work and tracts cash in and cash out over $10,000. This information is gathered by tellers and submitted by the BSA Department takes a great deal of time for our front line staff and BSA Department.
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Customer Due Diligence
Customer Due Diligence is a program which includes beneficial ownership verification. We ask purpose, source and transactional questions to understand how our account holder plans to use the account. Combined with CIP, CDD is a powerful tool to Know Your Customer.