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Webinar: BSA Compliance Series: BSA Special Risks: Policy, Law Enforcement & Regulatory Issues

Event Info


December 9th, 2015 2:00 PM   through   3:30 PM

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Will your BSA/AML program pass the next exam? BSA/AML programs must be constantly updated because of the evolving threats of money laundering, financial crimes, and regulatory changes. What should you know about FinCEN’s focus on issues ranging from beneficial ownership to marijuana-related businesses? This webinar will review what’s old, what’s new, and what’s to come. Other hot topics will include summaries of regulator issues ranging from vendor management to board oversight of high-risk products like remote deposit capture.

What changes should be made to your BSA policy and program because of new fraud risks or technology changes, such as the impact of mobile banking?  What key words in the SAR narrative will help law enforcement and what are the latest crime trends?  Are you properly reporting identity theft cases?  What are the lessons learned from recent enforcement actions?  We’ll review highlights of these actions and provide some key take-away checklists that will help strengthen the BSA/AML program at your credit union.


  • Regulatory expectations for “promoting a culture of compliance,” including recent FinCEN advisories and related guidance
  • The current scope of a BSA exam including emerging products, services, and markets; new technologies for various products; new methods to launder money, traffic narcotics, and finance terrorist activities
  • Hot issues include failing to keep pace with the institution’s growth and risk profile, insufficient resources, inadequate customer/member due diligence/enhanced due diligence, failure to monitor or report suspicious activity, issues with monitoring systems, independent BSA/AML audit scope and transaction testing, and trends in wire fraud
  • Overview of what’s coming – pending “beneficial owners” rule; increased number of states that have “legal” marijuana-related businesses
  • Dos and don’ts of providing banking services to MSBs
  • Highlights and lessons learned from law enforcement cases and enforcement actions
    • Check kiting and auto insurance fraud
    • FinCEN’s Geographic Targeting Order (GTO) and identity theft and IRS tax refund fraud
    • Statements found in SAR narratives
    • FinCEN’s November 24, 2014, enforcement action against a credit union in Florida


  • Resource list for SAR and CTR guidance
  • Checklist to identify high-risk members at account opening and matrix to risk rate members
  • FinCEN Advisory (FIN-2014-A007) on “Promoting a Culture of Compliance” and checklist for implementation
  • SAR investigation report template
  • Format for quarterly BSA/AML/OFAC reporting to the board
  • Employee training log
  • Quiz you can administer to measure staff learning and a separate answer key

Attendance verification for CE credits provided upon request.


This informative session is designed for anyone with BSA/AML responsibility, especially designated BSA officers and staff, senior management, risk managers, compliance officers, auditors, legal counsel, and trainers.

Please note:  The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered.  You may have as many people as you like listen from your office speaker phone.

ABOUT THE PRESENTER – Susan Costonis, Compliance Consulting and Training for FIs

Susan Costonis is a compliance consultant and trainer.  She specializes in compliance management along with deposit and lending regulatory training.  Most of her 35-year career was spent as a banker in several areas including lending, loan administration, electronic banking, and compliance risk management. 

Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies.  She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve.  Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado.  She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real life examples.


Note:  All materials are subject to copyright.  Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited.  Print materials may be copied for eligible participants only.



Listen to the archived webinar on your


Instructions will be emailed with the archived webinar link.

The live webinar option allows you to have one Internet connection from a single computer terminal.  You may have as many people as you like listen and watch from your office computer.  Registrants receive a website address and pass code that will allow entrance to the seminar.  The session will be approximately 90 minutes, including question and answer sessions.  Seminar materials, including instructions, pass code, and handouts will be emailed to you prior to the broadcast.  You will need the most-current version of Adobe Reader available free at

2.  ARCHIVED WEBINAR (Beginning January 1, 2016, CDs replaced with digital download*)

Can’t attend the live webinar?  The archived webinar is a recording of the live event, including audio, visuals, and handouts. We even provide the presenter’s email address so you may ask follow-up questions. Approximately one week prior to the webinar, you will receive an email with the archived webinar link.  This webinar link can be viewed anytime 24/7, beginning 6 business days after the webinar and will expire 6 months after the live program date.  The archived webinar may ONLY be ordered for 6 months following the webinar. It will not be available after this time.

*For archive orders for 2015 webinars placed before December 31, 2015, you will also receive a free audio/visual CD ROM.**  The CD ROM includes the original audio/visual presentation, the question and answer sessions, and the handouts.  CDs will no longer be provided for archived orders placed after January 1 and all 2016 webinars.  However, you will receive instructions on how to download a digital copy of the webinar which you may keep and use indefinitely.


Options 1 and 2 described above


**CD ROM is for Mac and PC use only

This event is being conducted by CU Web Training on behalf of the Missouri Credit Union Association. Click here to register:



December 9th, 2015 2:00 PM   through   3:30 PM