Friday, February 26, 2021
12:00 – 1:00 pm (Eastern Time)
11:00 – 12:00 pm (Central Time)
10:00 – 11:00 am (Mountain Time)
9:00 – 10:00 am (Pacific Time)
On October 15, 2020, FinCEN issued a new advisory on identifying and reporting human trafficking, supplementing its 2014 guidance. Since the 2014 Advisory, FinCEN collaborated with law enforcement to identify 20 new financial and behavioral indicators of labor and sex trafficking, and four additional typologies.
Financial institutions play a critical role in identifying and reporting activity commonly associated with human trafficking. Join this timely BSA webinar to know the latest red flags and indicators that may be alerts for sophisticated human trafficking schemes, and how to successfully manage and report suspected incidence of human trafficking.
Attendees will learn:
- Detailed review of the 2020 FinCEN advisory
- How to recognize populations vulnerable to human trafficking
- Indicators and red flags of human trafficking
- The behavioral signs front-line and customer-facing staff must
- How to successfully manage and report suspicious activity related to human trafficking
- Behavioral indicators of human trafficking
- Potential transactional-based and customer interaction-based red flags identified by FinCEN
- Detection strategies for human trafficking through financial transactions
Dena Somers is a highly regarded bank consultant and compliance attorney. She has provided regulatory compliance and risk management consulting services to financial institutions and companies in highly regulated industries nationwide for more than 20 years. Her areas of expertise include consumer and mortgage lending compliance, Fintech and specialty finance, regulatory compliance training, business strategy and best practice advisement, and corporate governance. Throughout her career, Ms. Somers has advised hundreds of banking and financial institutions— ranging from local community banks to $50 billion financial holding companies— to achieve operational efficiency while ensuring regulatory compliance. Previously, Ms. Somers served as General Counsel to a national mortgage servicing company, Fintech lender, national money service business, and has represented financial institutions in a broad array of complex litigation matters for more than 15 years. Additionally, Ms. Somers is a published author for Lexis Nexis in the areas of Bank Teller training, loan policies, and loan documentation training.
1.0 CPE Credits and 1.2 AAP Credits