The Bank Secrecy Act is designed to deter crime through its record keeping and reporting requirements. These reporting requirements provide the government with a paper trail by which law enforcement agencies can track suspicious financial transactions.

Audience

Any bank manager or senior level employee who wants to get an overview of how BSA fits into deposit operations or lending functions of a banking office or department.

Learning Objectives

After completing this course, students will be able to:

• Explain employee responsibilities in complying with the Bank Secrecy Act
• Determine how employees complete and file a Currency Transaction Report and a Suspicious Activity Report
• Describe qualifications for Designation of Exempt Person status
• Identify guidelines to answer client questions