Bank Secrecy Act and Anti-money Laundering May 7 2024
May 7 @ 11:00 am - 2:00 pm
Bank Secrecy Act and Anti-money Laundering May 7 2024
Tuesday, May 7, 2024
11:00 AM to 2:00 PM Eastern Time (starting 8:00 AM PT / 3:00 PM GMT)
This course will provide an overview of the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations, including their history, purpose, and key provisions. The course will cover the role of Bullish in detecting and reporting money laundering and terrorism financing activities, as well as the responsibilities of Bullish under the BSA and AML regulations. The course will also discuss the penalties for non-compliance and best practices for compliance with the BSA and AML regulations.
Bank Secrecy Act and Anti-money Laundering Course Objectives:
- Understand the history and purpose of the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations.
- Learn about the role of Bullish in detecting and reporting money laundering and terrorism financing activities.
- Become familiar with the responsibilities of Bullish under the BSA and AML regulations.
- Understand the penalties for non-compliance with the BSA and AML regulations.
- Learn best practices for compliance with the BSA and AML regulations.
Course Outline:
Module 1 – Introduction to the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations
- History
- Purpose of BSA and AML
Module 2 – Financial Crimes Enforcement Network (FinCEN)
- Financial Crimes Enforcement Network (FinCEN)
- Oversight of Virtual Currencies
- Technical Assistance provided by Financial Crimes Enforcement Network (FinCEN)
- Other Regulatory Agencies SEC, CFTC and DFS
Module 3 – Role of financial institutions in detecting and reporting money laundering and terrorism financing activities
- Suspicious Activity Reports (SARs)
- Reasonable Suspicion
Module 4 – Responsibilities of financial institutions under the BSA and AML regulations
- Responsibilities
Module 5 – Penalties for non-compliance with the BSA and AML regulations
- Examples of Civil Penalties
- Examples of Civil Penalties for Crypto Exchanges
- Examples of Criminal Penalties
- Examples of Civil Penalties for Crypto Exchanges
Module 6 – Best practices for compliance with the BSA and AML regulations
This program covers 5% of the focus area exam competencies for the Blockchain Legal Professional Level 2 Certification Exam set by the Web3 Certification Board.
