RC_RC_GO_204.1 Anti-Money Laundering Laws

MBA Member Price: $49.00

Nonmember Price: $79.00

Purchase

This is a single-family/residential course.

Banks and mortgage lenders, as well as other legitimate businesses, can be a means of laundering money obtained through crime. The Anti-Money Laundering Laws course focuses on laws and regulations that banks and mortgage lenders must follow to help combat both money laundering and terrorist financing.

The course provides background on money laundering and terrorism financing and explores lenders' obligations in regard to key laws. Laws and regulations discussed include Title 18 USC ยงยง 1956 and 1957, which criminalize money laundering; the Bank Secrecy Act (BSA, or sometimes BSA/AML) as amended by the USA PATRIOT Act; and FinCEN's final RMLO (Residential Mortgage Loan Originator) rule, which expanded mortgage lender obligations in regard to anti-money laundering activity. The course examines common red flags for mortgage lenders and lessons learned in BSA/AML enforcement. The course concludes with a discussion of the role of the regulatory agencies.

Topics:

  • Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Laws
  • Introduction to BSA/AML
  • Pillars of an AML Program
  • SARs for RMLOs
  • BSA/AML Red Flags
  • Role of the BSA/AML Regulators

Seat time approximately one (1) hour.

Copyright 2019.

Contact Info

education@mba.org