Lenders play a crucial role under the Bank Secrecy Act. They must be alert to attempts at money laundering, identify theft, loan fraud, and more – some of which require filing a SAR. Take this opportunity to learn more about the BSA implications for lenders and their responsibilities.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Understand the potential for money laundering in the lending area
- Use the tools provided to detect suspicious activity
- Develop risk profiles for consumer and business loan applicants
- Explain the beneficial ownership requirements to legal entity customers
- Ask appropriate due diligence questions during the loan application process
During exams, BSA examiners have been digging deeper and have begun to ask more questions about the lending function. Could an examiner find loan fraud that has gone undetected by your due diligence process? Is there a system for identifying false statements and attempts at identity theft on loan applications? Do lenders know that these activities may require filing a suspicious activity report? Is the process for documenting beneficial ownership effective? This program will address five important reasons that BSA training must be provided for lenders.
WHO SHOULD ATTEND?
This informative session is designed for loan officers, loan operations staff, BSA officers, BSA staff, branch personnel, risk managers, compliance officers, and audit staff.
- Customer due diligence checklists under the beneficial ownership rules
- Template to develop and update a risk profile
- Examples of suspicious activity in the lending area
- Employee training log
- Interactive quiz
SPEAKER: Susan Costonis, Compliance Consulting and Training for Financial Institutions
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.