Monday, May 24, 2021
2:00 – 3:00 pm (Eastern Time)
1:00 – 2:00 pm (Central Time)
12:00 – 1:00 pm (Mountain Time)
11:00 – 12:00 pm (Pacific Time)
Currency transaction reporting seems like a very cut and dry reporting requirements. However, bank and credit union employees confront challenging situations all the time that can put CTR compliance at risk. Some examples of these unusual CTR events include:
- While the majority of CTRs may seem easy, what happens when a CTR does not fit the standard?
- How do you handle joint accounts?
- What about family trusts?
New FFIEC Guidance Issued!
Complicating the CTR process now, is that, in the CTR section, the FFIEC manual adds a new subsection titled “Identification Required,” regarding what a bank must do to verify and record the identity of an individual involved in a CTR. This subsection clarifies that a notation of “known customer” or “bank signature card on file” is insufficient; the individual’s specific identifying information must be included in the CTR.
This compliance webinar is perfect for both front line staff and BSA departments to understand different situations that arise when determining whether to report or not, and how to correctly file CTRs even when different scenarios arise.
- Review of Currency Transaction Reporting (CTR)
- Best business practices for handling different types of scenarios
- New FFIEC revisions you must know
- Suggested documentation for your front-line staff in determining when to file
Who Should Attend?
- BSA/AML Officers and Support Staff
- Branch management
- Customer Service Representatives
- Call Centers
- Electronic Banking
- Risk Management
- Deposit Operations
- Internal Audit
- Information Security
- Executive Management
Throughout her career, Terri has served as a leader in the payments and fraud prevention industry, providing education, risk management and compliance consulting and support services geared toward the specific needs of financial organizations. Terri is an Advanced Certified Anti-Money Laundering Specialist, an At-Risk Adult Crime Specialist and an Accredited ACH Professional. Prior to founding Secura, Terri served as co-founder of Payments Information Circle (PIC), a service organization providing payments industry education, auditing, consulting, resources, and support services to financial organizations throughout the country. Prior to her work at PIC, Terri also served as the President of GACHA, a non-profit, regional payments association where she provided strategic direction for financial institutions in the payments industry. Terri began her career in payments as a Senior Analyst with the Federal Reserve Bank of Atlanta where she provided training throughout the Sixth District and served on the Federal Reserve ACH Conversion Team that consolidated ACH Services for all branch locations in the Sixth District.
1.0 CPE Credits & 1.2 AAP Credits