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Course description

New payment mechanisms and systems bring increased BSA risk. When your customer or bank offers or uses new payment mechanisms you must look at the inherent risk and how it can be mitigated. Sometimes this is a simple process of looking at limits and frequencies; in other cases, it requires much more.

Products and services affect your overall risk from a bank-wide perspective, so you need to understand them, how they will be used, how to track, detect, and report suspicious activity. During this webinar, we will look at new types of payment mechanisms, how to adjust your risk assessments for them, and how to investigate unusual customer activity with these payment methods.

We'll discuss:

  • Person to Person Payments
  • Square, Venmo, PayPal-settlement companies
  • Bill payment
  • Prepaid cards
  • Virtual currency
  • Issues with Third Party Payment Processors
  • Vendor management
  • CFPB's consumer protection principles on new payments
  • Consumer protection on prepaid cards from Regulation E
  • Developing and changing risk assessments
  • Investigations and filing of SARs


Who Should Attend:
BSA Officer and staff, Risk Management, Compliance, Audit, Operations and Security

Instructor(s)

Deborah Crawford

Deborah Crawford is the President of gettechnical inc. She specializes in compliance and regulations for the deposit side of financial institutions. Her 27+ year career in banking and training began at Hibernia National Bank. She has been a seminar leader for many state associations and credit union groups across the nation. She has Bachelors and Masters degrees from Louisiana State University.

Course curriculum

  • 1

    Video

    • Managing BSA risk of new payment methods

  • 2

    Materials

    • Materials

    • Slides

    • Vendor Tools

    • Products Worksheet

    • Services Worksheet

    • Customer Worksheet

    • Transactions Worksheet

    • Questions and Answers