BSA Reporting Requirements
Justin Muscolino brings over 20 years of wide-ranging experience in
compliance, training, and regulation in the financial services sector.
Most recently, he served as Head of Compliance Training at Bank of China
where he led the compliance training function and created and monitored
the annual training plan through a thorough training needs analysis.
Previously he served as Macquarie Group’s Head of Americas Compliance
Training and JPMorgan Chase’s Compliance Training Manager. Justin also
worked for FINRA, a US regulator, where he created Examiner University
to train examiners on how to perform their function.
BSA regulations require all financial institutions to submit five types of reports. Individuals or companies must file an individual filing requirement. We will go over more details later on in this presentation. They are:
- Currency transaction reports (CTR)
- Suspicious Activity Report (SAR)
- Foreign financial accounts (FBAR)
- Currency and Monetary Instrument Report (CMIR)
- Designation of Exempt Person
Areas Covered
- Overview and Background
- Reporting
- Regulatory implication
- Takeaways
Who Should Attend
Compliance Roles
Why Should You Attend
The Bank Secrecy Act of 1970 (BSA), also known as the Currency and Foreign Transactions Reporting Act, is a U.S. law requiring financial institutions in the United States to assist U.S. government agencies in detecting and preventing money laundering.
The BSA is the nation's first and most comprehensive Federal anti-money laundering and counter-terrorism financing (AML/CFT) statute. BSA authorizes the Secretary of the Treasury to issue regulations requiring banks and other financial institutions to take a number of precautions against financial crime, including the establishment of AML programs and the filing of reports that have been determined to have a high degree of usefulness in criminal, tax, and regulatory investigations and proceedings, and certain intelligence and counter-terrorism matters.
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$200.00
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