AML High-Risk Transactions and Correspondent Banking

Why Should You Attend:

AML operations, systems, and processes are designed to provide sound compliance and appropriate reporting of Suspicious Activity to Regulators on SARS. Properly identifying the high-risk activity will focus compliance priorities properly. Properly managing high-risk transactions when they are identified is equally important. Together, they help avoid reporting failures which can lead to sanctions against the bank.

This topic covers both the identification and the management aspects of high-risk transactions. International Correspondent Banking is a particularly high risk area with its own unique risk set.

Learning Objectives:

• Learn what are elements of transactions which can cause a transaction to be considered “high-risk”’ and how to make judgments in each category:
• Countries involved
• Customers involved
• Counterparties involved
• Product type or transaction type
• International Correspondent banking
• Learn how to manage high-risk transactions and what the options are for completing that.

Areas Covered in the Webinar:

• Characteristics that can cause a transaction to be considered high-risk.
• In bank’s organization, type of work that will need to be performed
• Identify key places in the workflow where communication to other areas is necessary and why there have been failures at this in the past.
• Techniques for controlling and managing high-risk transactions
• End results that may occur:
• Weighing analytical engines
• Special reviews
• SAR
• End the customer relationship
• Section 314(b) sharing with other institutions

Who Will Benefit:

• Fraud Professionals
• Compliance Professionals
• AML/BSA Professionals
• Banking VP
• Bank Director
• Bank Supervisor
• Bank Managers
• Credit Unions Manager
• Credit Unions VP
• Credit Unions Director
• Credit Unions Supervisor
• Financial Services Managers
• Financial Services VP
• Financial Services Director
• Financial Services Supervisor
• Banking Professional
• Credit Unions Professionals
• Financial Services Professionals