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Webinar: BSA & OFAC Training

Original Air Date: Feb. 9, 2022

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. In this comprehensive webinar, learn foundational BSA/OFAC concepts as well as more advanced topics. Gain critical insight from Steve Gibbs, CUCE, BSACS, as he presents BSA/OFAC compliance in this virtual, live webinar.

Upon completion, Cornerstone League will issue certificates of completion, listing those from your credit union who attend the training session to retain for documentation.   

Topics Covered

  • Bank Secrecy Act (BSA) compliance requirements and hot spots  
  • Office of Foreign Assets Control (OFAC) compliance requirements  
  • Anti-Money Laundering (AML) issues  
  • Specially Designated Nationals and Blocked Persons (SDN List)  
  • Member Identification Program (MIP / CIP) 
  • Currency Transaction Report (CTR) requirements 
  • Suspicious Activity Report (SAR) requirements 

Presenter - Steve Gibbs, CUCE, BSACS

Steve GibbsSteve Gibbs, Risk Management & Compliance AVP of Credit Union Resources has over 35 years of experience in the financial industry, including service with three regulatory agencies. Gibbs holds certifications for CUNA’s Credit Union Compliance Expert (CUCE) and Bank Secrecy Act Compliance Specialist (BSACS). Prior to his position at Cornerstone Resources, he served as director of the Southwest CUNA Management School, director of Information Central, and lobbyist/legislative analyst at the Texas Credit Union League. He has conducted numerous trainings for trade and regulatory groups throughout the U.S. and in Puerto Rico. Gibbs has written numerous articles on risk management and compliance for credit union publications.

Cost

$70 per link for member credit unions

Questions?

Call 800-442-5762 ext. 6630 or email us.