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MSB:BSA Requirements for MSBs

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This course will introduce the learner to the ways in which MSBs are directly affected by BSA requirements. The course will familiarize the learner with the Act itself, as well as how and when to file Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs), and why this is important. 

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T1. MSB:Bank Secrecy Act (BSA): This topic will educate the learner on the recent progress of money laundering detection and prevention, the purpose of the Bank Secrecy Act (BSA), and information regarding the penalties for violating the BSA. T2. MSB:Suspicious Activity Reports SAR: This topic will inform the learner on reporting suspicious activity, when to file a Suspicious Activity Report (SAR), examples of suspicious situations, completing a SAR, exceptions, and confidentiality of SARS. T3. MSB:Currency Transaction Reports (CTR): This topic will inform the learner about the use of Currency Transaction Reports (CTRs), Bank Secrecy Act (BSA) definitions of currency transactions, multiple transactions, completing a CTR, CTR exemptions, exempt and non-exempt businesses, and designating CTR exemptions. T4. MSB:Monetary Instrument Logs (MIL): This topic will educate the learner about reporting detailed records of all cash purchases of monetary instruments to the government, the Bank Secrecy Act (BSA) definitions of money instruments, multiple purchases and transactions, and recording monetary instrument purchases. T5. MSB:Funds Transfers: This topic will explain how funds transfers are essential tools of the global financial community, parties of transfer, using correspondent institutions, and funds transfer systems. T6. MSB:Currency Exchanges: This topic will discuss how BSA regulations impact currency exchanges at the financial institution. Learners will understand the importance of tracking both foreign and domestic currency exchanges as well as recordkeeping requirements for both. T7. MSB:Customer Identification Program (CIP): This topic will explain how funds transfers are essential tools of the global financial community, parties of transfer, using correspondent institutions, and funds transfer systems. T8. MSB:Your Role with BSA: This topic will provide guidelines for MSB professionals with regard to their role in preventing money laundering.

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MSB:BSA Requirements for MSBs

MSB:BSA Requirements for MSBs

Seat Time: hrs - Desc:

This course will introduce the learner to the ways in which MSBs are directly affected by BSA requirements. The course will familiarize the learner with the Act itself, as well as how and when to file Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs), and why this is important.