Wednesday, May 11, 2021

• High-Risk Products and Services and “Other Illicit Financial Activity”
  Taking a risk-focused approach to high-risk customers versus “The List” will require additional onboarding and due diligence. This session focuses on best practices for risk-focused high risks as well as other illicit financial activity including cybersecurity, elder financial exploitation, and fraud.


• Cannabis Banking Update – From Hemp to Delta 8 to Weed
  Marijuana continues to be one of the key topics in financial institutions with states legalizing medical or recreational marijuana. This session will focus on the key elements for banking and not banking cannabis related products.


• Emerging Payment Trends and Risks
  As our banks move to increased online banking services, the BSA implications will be impacted exponentially. ACH payments are quickly becoming one of the primary means of noncash payment. This session will focus on best practices in proactively mitigating risks in relation to the increasing changes in the payments arena.


• Banking Virtual and Digital Currency: What You Need to Know
  Are you interested in gaining a better understanding of virtual and digital currency This session will focus on information to help understand your institution’s overall exposure or quantify the risks of getting more deeply involved in these businesses?


• Educating the Bank and the Board: Ongoing Learning
  What are the musts, recommendations, and key challenges for meeting the updated BSA/ AML/OFAC Training Pillar requirements? This session will include practical tips and job aids to assist with ensuring training is more than just a “check in the box.”


• Human and Wildlife Trafficking
  Financial institutions that properly identify indicia of human trafficking are critical to law enforcement’s efforts to combat human trafficking. The pandemic aggravated the conditions that lead to human trafficking and can occur in a wide variety of industries. In addition, the proceeds related to wildlife trafficking is estimated to be between $7 and $23 billion annually. According to FinCEN, financial institutions play a critical role in “identifying wildlife trafficking and protecting the U.S. financial system from associated illicit finance through compliance with their BSA obligations.” This session will highlight key musts and recommendations for identifying and mitigating risks associated with human and wildlife trafficking.


• OFAC and Sanctions Compliance Update
  FATF is the most important watchdog to deter jurisdictions that may allow money laundering, terrorist financing, and other illicit and corrupt activity to go on in their countries. This session will focus on the latest OFAC updates, how our changing world impacts regulations, as well as best practices for maintaining OFAC compliance.


• What’s Ahead in 2022 -Tips, Tools, and Takeaways
  This session will wrap up the School and highlight upcoming proposed rulemaking and key initiatives that are on the horizon for BSA/AML.