Release Date: August 10, 2020
Estimated Duration: 90 minutes
Loans are frequent tools for fraud, tax evasion, and terrorist financing. That’s why lenders should be just as fully trained as deposit account staff on how to recognize and properly respond to activities reportable under the Bank Secrecy Act. Get all the critical facts from credit union compliance expert Mary-Lou Heighes. You’ll learn the necessary procedures and reporting requirements that can protect your credit union and your members from money laundering activities and losses.
You’ll get the answers to these questions and more:
- What types of loans are used for money laundering?
- What “red flags” can help you detect fraud or money-laundering?
- Must all borrowers’ names be run through your Member/Customer Identification Program (MIP/CIP) and OFAC, even guarantors and cosigners?
- What should you do if you suspect loan fraud, identity theft, or money laundering?
- What is the procedure for completing a Suspicious Activity Report (SAR)?
Be prepared when your examiners ask for proof of your Bank Secrecy Act training! You may choose to take our online review quiz on your BSA knowledge and receive a certificate of successful completion.
Who should attend:
- VP of Lending
- Loan Officer
- Loan Processor
- Operations Professional
- Compliance Professional
- Branch Manager
- Member Service
- Call Center
- Training & Staff Development
- Internal Audit
MEET THE PRESENTER
Mary-Lou Heighs founded Compliance Plus, Inc. to help credit unions with the always changing world of compliance. She joined the credit union movement in 1989 and has worked as a loan officer, marketer, collector as well as almost every position within credit unions. After working in credit unions, she transitioned to the Research and Information department for the California Credit Union League where she provided compliance assistance to all California and Nevada Credit unions.
As President of Compliance Plus, Inc. Mary-Lou now provides compliance training all over the country for various Leagues and credit unions nationwide.