The 2014 Credit Union BSA Symposium will be held on March 26, 2014 at the Doubletree Hotel in Milford, MA. This program is designed for compliance officers, risk
officers, BSA Compliance Officers and other staff responsible for the successful fulfillment of the credit union’s BSA program. The Bank Secrecy Act Symposium assists credit union professionals in remaining current on examination expectations, the definition of compliance as well as criminal trends.
“Hot Topics in Credit Union BSA Exams” presented by NCUA Principal Examiner, Jason Tarzia
“ACH Transactions and Suspicious Activity Monitoring” presented by NEACH VP of Risk and Compliance, Sean Carter
|All Financial Institutions are responsible for compliance with the Bank Secrecy Act. Consumers and businesses are like are making more and more transactions year to year and as volumes increase within any payment system then compliance risk increase at the same rate. FIs receiving ACH transactions need to find ways to identify the structuring of transactions or laundering of money through the ACH network. There needs to be policies and procedures designed to address the issue of compliance as it relates to the origination of P2P payments and A2A payments through the ACH network. We focus on hot issues like direct deposit of tax returns and opening accounts online using ACH as funding method. This session we help clarify the risks and provide ideas and sound practices to help with BSA compliance.
“Understanding your BSA Audit” presented by MacPage CPA and Managing Director, Mark Ayers and CPA and Client Service Director, Alison Herrick
“Cyber Fraud: The New Financial Crime Wave” presented by Eugene Power, Product Expert and Sales Engineer of Verafin, provider of Fraud Detection and Anti-Money Laundering Software
|This presentation will shine a spotlight on three ominous trends that have culminated in the perfect conditions for the growing wave of financial cyber fraud. It discusses how individual threat vectors such as data breaches, malware and organized cybercriminals have blurred and blended - resulting in increasingly sophisticated tactics used to commit financial crimes. It also walks through the play-by-play of some real-life fraud cases which showcase the extreme ingenuity of today's new cybercriminal.
There will also be a Question and Answer panel discussion following the presentations.