Leveraging BSA Controls for More Effective OFAC Compliance
by ICBSD
- May 13, 2020
- 0
Date/Time
Date(s) - 05/13/2020
2:00 pm - 3:30 pm
Categories
Leveraging BSA Controls for More Effective OFAC Compliance
WEBINAR DETAILS
The US Treasury’s Office of Foreign Assets Control (OFAC) administers and enforces economic and trade sanction programs against targeted foreign governments, individuals, groups, and entities to support national security and foreign policy goals and objectives. In general, the OFAC regulations require financial institutions to:
- Block accounts and other property of specified countries, entities, and individuals and
- Prohibit or reject unlicensed trade and financial transactions with specific countries, entities, and individuals.
Who must comply with OFAC regulations? How do the Bank Secrecy Act/anti-money laundering requirements fit in? What types of records must be kept? What if my financial institution is found noncompliant? Don’t risk the substantial consequences of noncompliance. In many cases, civil and criminal penalties have exceeded several million dollars. Join us to learn how to leverage BSA/AML controls to conquer OFAC compliance.
Attendance certificate provided to self-report CE credits.
WHO SHOULD ATTEND?
This informative session is designed for compliance personnel, particularly those responsible for OFAC and BSA/AML compliance.
