Unit 8: Bank Secrecy Act – Compliance Overview

The challenge in BSA compliance is creating a system that automatically reviews transactions for violations of the bank’s anti-money laundering policies and flags them for quick attention by compliance personnel. In this installment of our Online Training Series, Alan Abel, director and global AML practice leader with Crowe Horwath LLP, reviews the elements of an effective BSA compliance strategy and what the board should do to ensure there is a strong enterprise-wide program in place.

Topics Include:

• Customer Identification and Due Diligence
• Monitoring and Reporting
• AML Risk Assessment
• Independent Testing

A glossary of banking terms is included with each video unit.

About The Presenter:

Alan Abel is Crowe Horwath’s Global Anti-Money Laundering Practice Leader and Risk FATCA Compliance Leader, and is responsible for Quality Assurance for Crowe Horwath Financial Crime engagements. Alan is formerly Managing Director and Global AML Practice Leader for a Big Four Firm where he won the annual Financial Services Award for outstanding client service.

Alan has worked with the boards and executives of more than one hundred global and regional bank and non-bank financial institutions, including six members of the Wolfsberg Group, to help them develop and strengthen their governance, business processes and controls, risk assessment and risk management connected with money laundering, fraud, corruption, related financial crime, and economic sanctions and interdiction. Alan has more than twenty years of experience managing large, complex domestic and international projects and financial management operations.