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Anti-Money Laundering Program:
Your Early Warning System
Presented by: Patricia Cashman, Cashman Compliance Solutions
and
John Wagner, OCC, National Bank Examiner
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Materials
(only available to registered users) |
What do a $55 million bank in Florida and Western Union have in common? They have both been assessed civil money penalties by FinCEN for deficiencies in their anti-money laundering programs. Financial institutions across the country have discovered too late that they are expected to have procedures in place to "properly identify or analyze or report" suspicious activity. Whether large or small, located in New York or Kansas, your regulator expects an effective and detailed AML program.
What do the following have in common?
- A proof operator complains about the difficulty in handling all of those travelers' checks being deposited by the new accountant in town.
- During the weekly loan committee meeting, one officer expresses relief that his largest "troubled" credit was paid off in cash.
- The wire transfer clerk requests part-time assistance to handle the additional foreign wire activity created by a new customer.
- A local grocery store that also cashes checks stops requesting change orders but continues to make deposits of cashed checks.
These are all warning signs of possible money laundering. Would your AML system have brought them to light?
This session will help you to design an AML program that will include:
- Methods to identify, review, document, and report suspicious activity;
- Risk-focused procedures to assess the financial institution's customer base to identify the categories of customers whose transactions and banking activities are routine and usual; and
- A system to determine the appropriate level of enhanced due diligence necessary for those categories of customers identified as posing a heightened risk of illicit activities
About the speakers: Patricia Cashman
Patricia Cashman, CRCM, owner of Cashman Compliance Solutions, began her banking career in 1969. She has been the senior operations officer for three Dallas-Ft. Worth area community banks, an assistant examiner for the Texas Department of Banking and managed the compliance/internal audit division of TIB - The Independent BankersBank, one of the largest bankers' banks in the country.
Additionally, she has spoken as a webcast/teleconference presenter for ABA, taught a variety of compliance subjects for the Texas Bankers Association (TBA) at their Annual Compliance School, provides compliance seminars for the Center for Financial training (CFT, formerly AIB) and been a speaker/trainer for numerous banks, banking and compliance organizations throughout Texas and New Mexico.
John Wagner
John Wagner has 22 years experience as a National Bank Examiner. He is a Bank Secrecy Act (BSA) / Anti-Money Laundering (AML) Specialist in the Compliance Policy Division of the Office of the Comptroller of the Currency (OCC), U.S. Department of Treasury, serving on OCC national anti-money laundering groups. His responsibilities include developing policies and examination procedures, as well as providing interpretations, advice, and guidance to OCC management and staff, bankers, attorneys, and other regulatory agency officials. He regularly represents the OCC and the U.S. Treasury on interagency task forces addressing such issues as the USA Patriot Act, best practices on blocking criminal assets, and amendments to the BSA. He develops and conducts compliance-training programs for bankers and regulators (both domestic and international), is frequently invited to speak at national conferences, and has published articles in the American Bankers Association Bank Compliance magazine. Mr. Wagner also routinely works in the field to lead comprehensive BSA/AML examinations in multinational (domestic and international), mid-size, and community banks. He has recently worked on money laundering risk management issues.
Mr. Wagner is a Certified Anti-Money Laundering Specialist (CAMS) and earned his Bachelor of Science degree in business administration (Finance and International Business) from Northeastern University, Boston, Massachusetts.
About the seminar
One registration is required per location. If the complete broadcast is received via the computer the AUDIO and VIDEO COMPONENTS can be connected to a A/V projector to allow multiple participants to view the conference. If the audio portion of the broadcast is received via the telephone the AUDIO portion can be placed on speaker phone to allow multiple participants. Interactive components delivered via Web include slides, online polls and Interactive Q&A via chat.
You may view the ARCHIVED Presentation of this training event as many times as you wish throughout the next 30 days.
This will enable you to participate in the LIVE event as well as train additional staff from the ARCHIVED event.
Handouts will be provided and we welcome questions during and after the seminar, as well as in advance. Questions received after the seminar will be posted on a special Web page for later viewing by seminar attendees.
Contact Information: Billing questions can be directed to Carin Eisenhauer, carin@bankersonline.com. All other questions may be directed to mpetry@bankersonline.com
TEST YOUR SYSTEM: Click below to test receiving the presentation using Windows Media Player.
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