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BSA and OFAC Training

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. You and your staff will be able to learn about BSA/OFAC compliance in a live teleconference with Steve Gibbs, CUCE, BSACS.

All of the basic information pertaining to BSA & OFAC will be covered. Time will be allowed at the end of the teleconference for a question and answer session. Cornerstone will issue a certificate of attendance listing those from your credit union who attend the teleconference training session to retain in your files for documentation. Registration fee per telephone call-in line includes the live teleconference call-in & (1) free archive call-in of the recorded session. The recorded session will be archived for 30 days from the original date.

Updated information for the teleconference will include:

  • 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

Who Should Attend

CEOs, 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".

Dates & Times

Date: Wednesday, July 17, 2019
7:30 a.m. - 8:30 a.m. CST


Presenter - Steve Gibbs, CUCE, BSACS

Steve GibbsSteve Gibbs is Risk Management & Compliance AVP (formerly AVP Shared Compliance), for Credit Union Resources, Inc. His history with the financial industry spans 30 years, including service with the Federal Reserve Bank of Dallas, Federal Home Loan Bank of Dallas (Office of Thrift Supervision), and Federal Deposit Insurance Corporation (FDIC). Gibbs served Texas Credit Union League as director of Southwest CUNA Management School, director of Information Central, and lobbyist/legislative analyst, and he has conducted training for financial industry groups including SWACHA, Texas Credit Union Department, EPN/The Clearinghouse, National Association of State Credit Union Supervisors (NASCUS), and leagues/associations around the country.

Educational Investment

Each connecting telephone line - $69

Dial-In instructions, handouts, and attendance rosters will be furnished a week prior to the meeting. Your investment includes access to the "live" teleconference call plus one call-in to the recorded archive to be used within 30 days of the event.

Registrant 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.


If you have questions regarding this conference, call 800-442-5762 ext. 6426 or 469-385-6426 or email