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BSA Requirements for Board of Directors and Senior Management

T1. Bank Secrecy Act: This topic will educate the learner on the recent progress of money laundering detection and prevention, the purpose of the Bank Secrecy Act (BSA), and information regarding the penalties for violating the BSA.

T2. BSA/AML Compliance Program: This topic will provide the learner with characteristics indicative of an effective BSA/AML compliance program and identify multiple purposes they serve within financial institutions.

T3. Customer Identification Program: This topic will educate the learner about identifying customers, the purpose of a Customer Identification Program (CIP), verifying customersÆ identities, obtaining required identifying information about a customer from a third-party source when establishing a credit card account, and recordkeeping procedures.

T4. USA PATRIOT Act: This topic will educate the learner on the provisions and background of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act, amendments to the Bank Secrecy Act (BSA), primary money laundering concerns, and the reauthorization of the USA PATRIOT Act.

T5. BODSM: Your Role in BSA: This topic will familiarize the learner with his/her role and responsibilities as a member of the board of directors or senior management at the institution in regard to ensuring compliance with the BSA.

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