July 26: Bolstering BSA/AML Compliance in 2023: Effective Risk Management Programs Explored

The need for banks and other financial institutions to design their Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance program is paramount to mitigate financing risks and, most importantly, ensure conformity with the heightening BSA/AML regulations. Adopting a risk-based approach that focuses on detection and mitigation measures from potential illicit financial transactions is at the core to avoid hefty fines and legal liabilities. Moreover, banks and financial institutions must keep themselves abreast with emerging regulatory developments to avoid pitfalls.
Join seasoned forensic accountant Stanley Foodman, CPA, CAMS, CFE, CFF, CGMA, TEP (Foodman CPAs and Advisors) and financial crime expert Uday Gulvadi (Stout Risius Ross, LLC) as they delve into an in-depth discussion of the crucial issues and trends reinforcing BSA/AML compliance. The speakers will also share fresh insights and practical tips for developing effective and robust risk assessment and management programs.
Key topics that will be covered in this discussion are:

• The BSA/AML Risk Assessment: An Overview
• Notable Enforcement Trends
• The Importance of a Risk-Based Approach in Identifying Risks
• The Interplay of Risk Assessment and Customer Due Diligence (CDD)
• Regulatory Outlook.

Learning Objectives:

• Understand the key principles and methodologies of conducting a comprehensive BSA/AML risk assessment.
• Explore the interrelationship between risk assessment and customer due diligence (CDD) for enhanced compliance and effective anti-money laundering measures.
• Gain insights into the emerging regulatory developments and enforcement trends in the BSA/AML landscape.

Title:
Bolstering BSA/AML Compliance in 2023: Effective Risk Management Programs Explored
Date+Time:
Wednesday, July 26, 2023
12:00 pm to 1:00 pm (ET)
Register now for this free continuing legal education webinar!
By:

The Knowledge Group

Speakers:
Stanley Foodman, CPA, CAMS, CFE, CFF, CGMA, TEP, CEO & President, Foodman CPAs and Advisors, Stout Risius Ross, LLC
Uday Gulvadi, Managing Director, Stout Risius Ross, LLC
Credit:

• New York: 1 credits
• California: The Knowledge Group is an approved Multiple Activity Provider in the state of California thus, TKG programs are presumptively approved.
• Most Other States: TKG links to How to Claim CLE Credits Per State.

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