Foreign Branch Office (FBO) for Banks

This course explains the Anti-boycott Provisions of the Export Administration Act (EAA) and the Export Administration Regulations (EAR). The course explains what constitutes illegal boycott-related activities and your responsibilities regarding these provisions. The course also contains a scenario activity where you will be asked to use what you have learned to respond appropriately in a situation that may involve illegal boycott-related conditions.

This course explains the money laundering process and educates you about ways to prevent money laundering at your financial institution. It also discusses key legislation and your financial institution's requirements for its anti-money laundering (AML) strategy.

This course covers prohibitions against bank bribery. It discusses what type of items/gifts a financial institution's employee is forbidden to accept and lists a variety of exceptions. The course also contains a scenario with Anne Marie, a bank employee, and Mario, her customer. As you move through the scenario, you will be asked to determine if Mario is trying to bribe Anne Marie, and how Anne Marie's responsibilities and compliance requirements will determine how she is required to respond.

The Bank Secrecy Act (BSA) helps the United States government combat money laundering and other illegal financial activity. All banks operating in the United States or U.S. Territories must adhere to these BSA rules and regulations. This course provides an overview of the BSA and discusses its identification, recordkeeping, and reporting requirements.

Customer due diligence (CDD) is a critical part of your branch's/agency's Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) policies. This course discusses the purpose of CDD guidelines and the basic way CDD can help you to know your customer, assess risk, and decide when enhanced due diligence (EDD) may be necessary. Employees must know how and when to apply appropriate CDD and EDD procedures. This course explains the basics of CDD and EDD and provides opportunities to practice what you have learned in two scenario activities.

This course reviews the basic requirements of a Customer Identification Program (CIP) as prescribed by the PATRIOT Act. It explains the relationship between the CIP and the institution's anti-money laundering (AML) program. In addition, it provides guidance on how to verify the identity of customers and how to respond to identify verification problems.

This course explains why an embassy and foreign consulate may need an account in the United States. The course discusses the risks associated with an embassy or foreign consulate account and what a U.S.-based branch of a foreign bank can do to mitigate those risks.

This course provides an overview of the Expedited Funds Availability Act (EFAA) implemented by Regulation CC. The course begins by introducing Regulation CC basics, and then covers the availability of funds. It also discusses Regulation CC exceptions.

This course explains why foreign correspondent accounts pose money laundering risks to your branch/agency. The course also discusses the BSA and USA PATRIOT Act requirements that you must follow for foreign correspondent banking transactions. At the end of the course, you will be asked to apply what you have learned in a case study scenario.

All U.S. individuals and businesses are required to comply with regulations sanctioned by the Office of Foreign Assets Control (OFAC). Among other things, these regulations block or restrict financial institutions from transactions with foreign persons, countries, or entities that are known or suspected to have ties to terrorist activity or drug trafficking. This course provides a working knowledge of the OFAC regulations, including what the OFAC regulations entail, what to do if someone is found to be prohibited from engaging in transactions with the U.S., and what it takes to be compliant under these regulations.

Trade finance fraud and money laundering, also referred to as trade-based money laundering (TBML), can be performed during the shipment, documentation, or purchasing of goods and services. This is a growing threat primarily in the international economy. All financial institution employees must be aware of the red flags that indicate fraud and TBML and procedures they can use to help fight this type of crime.

A branch/agency may have to process the sending and receiving of wire transfers. Since wire transfers can be associated with money laundering, you must be able to identify red flags that may indicate criminal activity in an account. This course discusses risk factors associated with wire transfer activity and ways you can help prevent your branch/agency from falling prey to any illegal wire transfer activity.