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Surgent's Auditing Anti-Money Laundering (AML) Programs and Controls (AMLP)

04.04.18 1:00PM – 04.04.18 3:00PM





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General Info

We often hear and read of news headlines targeting major sanctions and penalties imposed by regulatory agencies against financial institutions due to inadequate AML programs and controls. The fight against money laundering from a legal/ regulatory and auditing end was most notably launched in 1970 with the passage of the Bank Secrecy Act (BSA). Since that time, various additional anti-money laundering laws and regulations have been enacted, which have served to further strengthen requirements for internal controls (and auditing thereof), in this most highly sensitive area of regulatory compliance. After 9/11, Congress passed the USA PATRIOT Act, which included the most sweeping expansion of Bank Secrecy Act related regulations to date, broadening their scope to encompass customer identification programs and terrorist financing related activities and controls, among other key provisions. While most significant to financial institutions and auditors, anti-money laundering laws/ regulations are everybody's business! Discover the fundamentals for auditing anti-money laundering programs and controls, as well as key application strategies for integrating AML and operations controls (and auditing thereof), in this engaging program.
  • What’s UP with FinCEN (Financial Crimes Enforcement Network)
  • Federal Financial Institutions Examination Council (FFIEC) BSA/ AML Examination Manual Overview
  • AML fines/ penalties/ enforcement actions and investigations
  • A brief history in BSA time
  • The foundational elements of effective BSA/ AML programs/ auditing programs
  • Money laundering basics
  • BSA/ AML risk assessment
  • Customer Identification Programs (CIP)
  • Know your customer / Customer Due Diligence (CDD)
  • Enhanced Due Diligence (EDD) for high-risk customers
  • Large currency transaction monitoring and reporting
  • Suspicious activity monitoring and reporting
  • OFAC (Office of Foreign Assets Control)
  • Core controls and auditing areas
  • Expanded controls / auditing areas
  • “Red Flags” (for money laundering and terrorist financing)
  • Effective AML and operations integration strategies
  • Understand the importance and sensitivity of BSA/ AML auditing activities and controls in organizations (with particular emphasis on financial/ depository institutions)
  • Identify ways to impact and strengthen your organization’s (and their clients’) BSA/ AML programs and controls
  • Highlight practical application considerations for building/ strengthening effective organizational BSA/ AML auditing programs.
  • Recognize strategic opportunities for integrating AML and Operations controls and audit coverage related thereto
Designed For
Auditors seeking to enhance overall AML risk-based programs and focus, with particular emphasis on AML and Operations control integration strategies
Surgent Associates, LLC
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