Why Should You Attend:
In recent years, the reports and records prescribed by the BSA have also been utilized as tools for investigating individuals suspected of engaging in illegal drug and terrorist financing activities and other Money Laundering activities.
Money laundering involves the processing of a financial transaction representing the proceeds of unlawful activity in such a manner to conceal the nature, source, or ownership of the proceeds or to avoid a legal requirement to report such a transaction.
This form of fraud differs in many ways from traditional banking fraud since the financial institution is not itself the target; nor are the organization’s customers. Rather it involves the use of the organizational environment and infrastructure to carry out an illegal activity.
Areas Covered in the Webinar:
Outline, briefly, the constituent parts of the BSA requiring bank compliance
Define Money Laundering, common and legal identifiers and Red Flags
Stages of Money Laundering
Four Pillars of BSA
Identify Sources of Audit Evidence of IT Laundering
Explain how the BSA covers evidence gathering
Internet and Cloud Laundering
The steps involved in conducting an internal investigation
Customer Identification Program
OFAC Checking
Beneficial Ownership
The two-prong test
Customer Due Diligence
Customer Risk Rating
Filing Reports
In recent years, the reports and records prescribed by the BSA have also been utilized as tools for investigating individuals suspected of engaging in illegal drug and terrorist financing activities and other Money Laundering activities.
Money laundering involves the processing of a financial transaction representing the proceeds of unlawful activity in such a manner to conceal the nature, source, or ownership of the proceeds or to avoid a legal requirement to report such a transaction.
This form of fraud differs in many ways from traditional banking fraud since the financial institution is not itself the target; nor are the organization’s customers. Rather it involves the use of the organizational environment and infrastructure to carry out an illegal activity.
Areas Covered in the Webinar:
Outline, briefly, the constituent parts of the BSA requiring bank compliance
Define Money Laundering, common and legal identifiers and Red Flags
Stages of Money Laundering
Four Pillars of BSA
Identify Sources of Audit Evidence of IT Laundering
Explain how the BSA covers evidence gathering
Internet and Cloud Laundering
The steps involved in conducting an internal investigation
Customer Identification Program
OFAC Checking
Beneficial Ownership
The two-prong test
Customer Due Diligence
Customer Risk Rating
Filing Reports
Speakers
Richard Cascarino, is the Principal of Richard Cascarino & Associates, a highly successful audit training and consultancy company based in Colorado and Johannesburg. He is a regular speaker at National and International conferences and has presented courses throughout Africa, Europe, the Middle East and the USA. Richard is a Past President of the Institute of Internal Auditors in South Africa and also a member of ISACA and the Association of Certified Fraud Examiners.Richard was a member of the Audit Committee of the Department of Public Enterprises in South Africa and chairman of the Audit Committee of Gauteng cluster 2 (Premier's office, Shared Services and Health). He is the author of the "Auditor's Guide to IT Auditing" and the newly released “Corporate Fraud and Internal Control: A Framework for Prevention” both published by Wiley Publishing which is also used by universities worldwide.
