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During this program we will update BSA Officers on the new and prominent issues for BSA in 2022. New National Risk Assessments, National Priorities established, the proposed Enablers Act, the proposed Cannabis Administration Opportunity Act and many more hot and pending topics for BSA
We will discuss the new beneficial ownership rule. The rule describes who must file a BOI report, what information must be reported, and when a report is due. Specifically, the rule requires reporting companies to file reports with FinCEN that identify two categories of individuals: (1) the beneficial owners of the entity; and (2) the company applicants of the entity.
-New 2022 National Risk Assessments
-National priorities for AML
-Continued discussion about CDD/High risk customers
-SARs and Cyber Crimes
-OFAC and Russia
-Proposed law changes such as Cannabis and Enablers Act
-New beneficial ownership rule topics include:
-Who is a reporting company?
-What are the exemptions from reporting?
-Detailed analysis of what is a substantial owner
-Detailed analysis of who is a 25% owner
-Two types of company applicants
-Four pieces of information that have to be provided
-How the FinCEN identifier will be issued
-Timing and the next steps for implementation
Who should attend?
BSA Officers, BSA Staff, Training, Compliance, Operations, OFAC
Questions and Answers