MD|DC CUA's Lucas Panelist for NCUA's Bank Secrecy Act Webinar

Director of Compliance Andre Lucas Panelist for Wednesday April 25 Webinar

Credit unions with questions about complying with customer due diligence requirements in the Bank Secrecy Act can get valuable information on a National Credit Union Administration webinar scheduled for April 25.

This 60-minute webinar is scheduled to begin at 2 p.m. Online registration is available here.

The Financial Crimes Enforcement Network in 2016 issued a final rule updating the Bank Secrecy Act’s requirements for effective BSA and anti-money-laundering programs. The webinar, “BSA Compliance – Customer Due Diligence,” will address these requirements for credit unions.

The webinar panel—Sandra Sojka, a regulatory policy officer with FinCEN’s Policy Division; Janet Carruthers, a fraud and risk analysis specialist with NCUA’s Office of Examination and Insurance; and Andre Lucas, the director of compliance, MD|DC Credit Union Association—will review the basic requirements of the 2016 rule, including:

  • Reducing compliance and reputation risk with ongoing member due diligence;
  • Enhancing risk-based procedures by including timely and accurate SAR reporting; and
  • Improving the overall BSA/AML program with specific procedures.

You can submit questions in advance at WebinarQuestions@ncua.gov. The email’s subject line should read, “BSA Compliance – Customer Due Diligence.” This webinar will be closed captioned and then archived online here approximately three weeks following the live event.

The Office of Credit Union Resources and Expansion supports low-income-designated credit unions and credit unions interested in a low-income designation; minority credit unions; credit unions seeking changes in their charters, bylaws, or fields of membership; and groups organizing to start new credit unions.