Curriculum | AML & Fraud School

7:00 AM – 8:30 AM

Breakfast

7:00 AM – 8:30 AM

Registration

8:45 AM – 9:30 AM

Synergies Between BSA/AML and Fraud

AML and Fraud departments work to identify and stop financial crime. The fraud and money laundering departments should collaborate to expedite the overall compliance response and take a comprehensive approach to the illegal threats they confront. Learn the similarities and differences between AML and Fraud; and the purpose of each.

9:45 AM – 11:45 AM

What Constitutes a Fraud Program?

Dive into the types of fraud, the four pillars of fraud and fraud customer education. We will also learn about fraud prevention/control, including Reg CC, Reg E, Reg Z, loan fraud, and Fannie Mae and Freddie Mac requirements. We will highlight SAR reporting requirements, liability, and recovery efforts outside of 314(b).

11:45 AM – 1:00 PM

Lunch

1:00 PM – 3:45 PM

What Constitutes an AML Program?

Dive into the elements of a well-designed risk based BSA/AML Program. We will learn about the fundamentals of determining a BSA/AML Risk profile based upon the size, complexity, or uniqueness of the organization.

4:00 PM – 5:00 PM

CTR Reporting and Exemption Requirements and Basics

Is it $10,000.00 or $10,000.01? This course will provide an in-depth understanding of cash reporting requirements, including aggregation expectations, that trigger a Currency Transaction Report. The FinCEN CTR form will be dissected section by section to enable learners to gain knowledge about what is needed to accurately complete the form. CTR Exemption Phases (I and II) will be reviewed so learners will know if and when to consider exempting a customer from CTR reporting, along with a walk-through of the Designation of Exemption Form (DOEP) and filing, including annual review, requirements.

5:00 PM – 6:00 PM

Welcome Reception

7:00 AM – 8:00 AM

Breakfast

8:00 AM – 9:30 AM

Fraud Types and Channels

This course will provide an in-depth understanding and discovery of the vast majority of fraud typologies and the associated red flags; as they relate to the financial services industry.

9:45 AM – 11:15 AM

Liability and Recovery

Fraud has occurred… but who is liable for the loss? It depends! This course will cover fraud loss liability regulatory requirements and industry standards as well as best practices for recovering funds.

11:30 AM – 12:00 PM

Enforcement Action Examples

We are all very aware that numerous Enforcement Actions have been handed down by regulatory agencies over the past few years. In this session we’ll discuss the issues identified within the Actions, including similarities among each, and how the Actions can be leveraged to make YOUR programs better.

12:00 PM – 1:15 PM

Lunch

1:15 PM – 2:30 PM

BSA Types of Higher Risk Customers

TPPP, PO ATM, PEP, PSP, NBFI, and more… so many acronyms for higher risk customers! In this course, we will demystify these acronyms, discuss different types of customer risk and help answer common questions. Who are my high risk customers? What’s the risk? What should I do to mitigate the risk?

2:45 PM – 4:15 PM

BSA Types of Higher Risk Products & Services

We have all these products/services, which ones matter and what do I need to know? In this course, we will review the high-risk products and services and learn how they work and what the red flags and risks are within each product and service. This session will help you quickly understand how money will move throughout the processes and how to execute your reviews.

7:00 AM – 8:00 AM

Breakfast

8:00 AM – 9:15 AM

Case Study on Financial Crimes

Explore a real-life example of a financial crime including what happened and the result.

9:30 AM – 11:00 AM

BSA and Fraud Alert: Understanding and Promoting the Alert

You’ve received an alert. But what does it mean and why did it generate? Join us as we triage an alert together! In this course, we will explore the differences between BSA and Fraud alerts, learn how to read and interpret an alert, and look at various alert scenarios together. It’s your decision... should the alert be closed or further investigated? How much research should you do before escalating an alert? How can due diligence information help you disposition the alert? What internal processes and resources can be utilized during the alert triage process? This session will help you quickly identify red flags and challenge your risk-based decision-making skills when determining if an alert should be escalated vs closed.

11:15 AM – 12:15 PM

Regulator Panel

Hear from a group of regulators on what the latest regulations mean for you as an AML and Fraud professional.

11:30 AM – 12:45 PM

Lunch

12:45 PM – 3:15 PM

Weeding Through the Details and Executing the Investigation(s)

So you’ve determined an alert needs to be investigated further. Now what? No two investigations are exactly the same – the investigative process depends on the risks at hand. In this session, we will walk through various investigations and explore what questions to ask, things to consider, and ways to sharpen your investigative skills. We will learn how to analyze transaction patterns and challenge the information in front of you. We will also discuss common traps of the investigation.

5:30 PM – 8:30 PM

Mid-week Celebration

7:00 AM – 8:00 AM

Breakfast

8:00 AM – 9:00 AM

Performing an Interview and Communicating with Others

We’ve reached the interview stage of the investigation. We will discuss techniques and best practices to help you get the information you need. To build confidence, we will put the skills learned to practice with mock interviews.

9:15 AM – 10:30 AM

Decisioning and Documentation – BSA and Fraud

You’ve finished your investigation! It’s time to decision and document your case. How much information is needed and who is going to look at it? In this course, we will discuss best practices for creating a sound investigation narrative and documenting your case file.

10:45 AM – 12:00 PM

SARS

In the first hour of this session, we will focus on answering these questions: Is your SAR program up to par? Are you reporting on not only AML related suspicious activity, but fraud and cyber incidents? Are your SAR narratives providing meaningful information and the right “buzz words” that will entice law enforcement to read them? We’ll focus on published SAR guidance, including FinCEN Advisories, critical fields vs. non-critical fields and the importance of them, partnering with other departments within your organization when required, and writing a concise narrative.

12:30 PM – 1:15 PM

Lunch

1:15 PM – 2:30 PM

SARS

The second hour of the session includes a presentation by law enforcement where they will talk through what’s meaningful to them when they review SARs and they’ll walk through a few successful cases that were initiated from SAR filings.

2:45 PM – 4:00 PM

Peer Networking: What are you seeing

Learn from your colleagues by spending time discussing what they are seeing and doing within their financial institutions.

7:00 AM - 8:00 AM

Breakfast

8:30 AM - 10:00 AM

Questions about AML & Fraud

Learn from your colleagues by spending time discussing what they are seeing and doing within their financial institutions.

10:15 AM - 11:15 AM

The Investigator’s Toolbox: Key Tools to Build Self-Sustaining Skills to be Strong Professionals

What’s in your investigator toolbox? This session will highlight the tools, best practices, templates, skills and questions to help you be successful. While no two alerts or investigations are exactly the same, a well thought through and organized toolbox will help you get started.

11:15 AM - 11:30 AM

Class Wrap-up