BSA and OFAC Teleconference

Date: Wednesday, August 26, 2015
Time: 7:30 a.m. - 8:30 a.m. (CST)


Compliance with the Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) remains an important issue with regard to examinations and credit union liability. A substandard BSA / OFAC compliance program may expose your credit union to unwanted regulatory scrutiny and extensive penalties. Credit union managers and staff will be able to learn about BSA / OFAC compliance in a live teleconference on August 26, 2015, with Steve Gibbs, CUCE, BSACS.

Updated 2015 information for the teleconference will include:

  • History
  • Penalties – Are your pockets deep enough??
  • Regulatory Requirements
  • Anti-Money Laundering (AML)
  • Customer ID Procedures (CIP)
  • Currency Transaction Reports (CTRs)
  • Filing
  • Procedures – getting back to basics
  • Suspicious Activity Reports (SARs)
  • Red Flags!
  • Law Enforcement Inquiries and Requests
  • ACH/Wires/Money Orders/Smart Cards
  • MSBs and High Risk Entities
  • BSA and Your Board of Directors
  • Assessing Risk for BSA
  • Training.
  • Office of Foreign Assets Controls
    • Updates

Who Should Attend

Managers, supervisors, frontline staff; all credit union staff who must complete BSA & OFAC training once every year will benefit from this teleconference. Take advantage of this opportunity to gather everyone for an early morning “team training session”.

Presenter - Steve Gibbs, CUCE, BSACS

Steve GibbsSteve Gibbs manages Shared Compliance Resources, a division of Credit Union Resources, Inc and the Cornerstone Credit Union League. His career of over 30 years in the financial industry includes service with the Federal Reserve Bank of Dallas, the Federal Home Loan Bank of Dallas (Office of Thrift Supervision - “OTS”), and the Federal Deposit Insurance Corporation (FDIC). Steve holds CUNA’s Credit Union Compliance Expert (CUCE) and Bank Secrecy Act Compliance Specialist (BSACS) certifications. Steve served the Texas Credit Union League as Director of the Southwest CUNA Manage ment School, Director of Information Central, and Lobbyist/Legislative Analyst.  He has conducted training for financial industry groups including SWACHA, the Texas Credit Union Department, EPN/The Clearinghouse, and the National Association of State Credit Union Supervisors (NASCUS), as well as leagues/associations in Oklahoma, Arkansas, Louisiana, Kentucky, the Dakotas, Kansas, Nebraska, California, Mississippi, Tennessee, and of course his home state, Texas. In addition to speaking, Steve writes articles for numerous regional and national industry publications.


$69 per connecting line for live teleconference call and one free archived call-in

Dial-In Instructions, Handouts, and Attendance Rosters will be furnished a week prior to the meeting.

When the attendance rosters are completed and returned, the league will furnish you with attendance certificates for your records of attendance.

Register online.

Registration includes: Access to the "live" teleconference call plus one call-in to the recorded archive to be used within the next 30 days.

Cancellation Policy

Substitutions are always welcome. Registration fee refunds (less a $20 processing fee) are granted for cancellations received in writing two weeks prior to the teleconference.