This course will familiarize the learner with the crime of money laundering relative to his/her position in the Compliance Department. This course will also provide a comprehensive overview of red flags and suspicious activity so that s/he may be able to recognize and report indicators. After completing this program, the learner will understand how to:
- Recognize the red flags of money laundering.
- Conduct Customer Due Diligence (CDD) practices and prevent money laundering at the organization.
- Recognize the roles that agencies such as OFAC play with regard to creating effective AML guidelines for the organization.
Seat Time: 0.25hrs - Desc:
This course will introduce the learner to Regulation X's relationship to Regulation T and Regulation U. The course will also discuss when Regulation X is applicable to purchasing securities credit and when a borrower is subject to Regulation X. After completing this program, the learner will understand:
- Purpose of Regulation X.
- Definition of a "U.S. Person."
- When a U.S. Person may not participate in a credit transaction that is collateralized by margin securities.
This course will introduce the learner to Regulation P, which distinguishes between nonpublic and public information. The learner will also be provided with an overview of required privacy notices, including the required content of privacy notices. After completing this program, the learner will understand:
- The purpose of Regulation P.
- Essential information in privacy notices.
- When financial institutions are permitted to release nonpublic personal information.
This course will introduce the learner to Regulation CC and its relationship to the Expedited Funds Availability Act. The learner will be provided with an overview of the timeframes established by Regulation CC that define a business day. After completing this program, the learner will understand:
- The definition of a general hold policy.
- What constitutes a general hold policy exception.
- Why and when notices and disclosures must be given.
Seat Time: 0.25hrs - Desc:
This course will introduce the learner to the provisions of Regulation H. The course will discuss for the learner what Regulation H defines as membership requirements for state-chartered banks into the Federal Reserve System. After completing this program, the learner will understand:
- Regulation H's function.
- What Regulation H establishes.
- Definition of "state-chartered member banks."
This course will introduce the learner to Regulation GG and the Unlawful Internet Gambling Enforcement Act of 2006. The course will discuss the specifications of Regulation GG and will define unlawful Internet gambling. After completing this program, the learner will understand:
- The provisions of the Act.
- Which payment systems could yield possible unlawful Internet-gambling transactions.
- Exemptions from the Act.
Seat Time: 0.25hrs - Desc:
This course will introduce the learner to Regulation FF, which establishes rules for consumer medical information and credit eligibility. The learner will be provided with an overview of the exceptions to Regulation FF, as well an example of such exceptions. After completing this program, the learner will understand:
- What a creditor can do with unsolicited medical information.
- When a creditor can obtain and use medical information to establish eligibility.
- Specific exceptions that allow creditors to use medical information.
Seat Time: 0.25hrs - Desc:
This course will introduce the learner to the provisions of Regulation F. The course will discuss for the learner the requirements established under Regulation F as well as the mandates of policies and procedures. After completing this program, the learner will understand:
- Purpose of Regulation F.
- Which financial institutions are affected by Regulation F.
- The rate of credit exposure limited to an individual correspondent institution.