Bank Secrecy Act Basics
Last Updated 04/2023
English
Full Lifetime Access
Finish in
36 min! Run Time
36 min! Run Time
Made for for
Employees
only
Employees
only
Certificate
of Completion
of Completion
What you'll learn
Obligations as a bank employee
Money Laundering
Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulations
more
Skills covered in this course
Description
A plain-language grounding in the Bank Secrecy Act (BSA) and what it means for your day-to-day work as a bank employee.
What this course covers:
- The critical BSA information every bank employee should know
- Your core obligations under the Act
- How non-compliance leads to penalties
- Steps to stay on the right side of BSA rules
A concise starting point for bank staff who need the essentials of the Bank Secrecy Act.
System Requirements
See System Requirements in the Coggno Knowledge Base
Author
Making the Workplace Safer and Smarter
HSI (Health & Safety Institute) is a recognized leader in Environmental, Health and Safety (EHS) and workforce development software, training, and compliance solutions.
HSI is your single-source partner for EHS, Compliance, and Professional Development solutions. HSI provides integrated e-learning content, training solutions, and cloud-based software designed to enable your business to improve safety, operations, and employee development. Across all industries, we help safety and technical managers, human resources, first responders, and operational leaders train and develop their workforce, keep workers safe, and meet regulatory and operational compliance requirements. We are a unique partner that offers a suite of cloud-based software solutions including learning management, safety management, chemical SDS management, and more, integrated with our content and training so businesses can not only monitor and manage multiple workflows in one system, but train employees via one partner.
Bank Secrecy Act Basics
Bank Secrecy Act Basics: 02. Money Laundering 101
When the government began tracking large cash transactions, criminals found ways to hide the source of their funds, turning dirty money into clean money.
What this course covers:
- What money laundering is and where the term comes from
- How a laundering scheme actually works
- How money laundering impacts the wider economy
- What the U.S. is doing to stop it
A plain-language introduction for financial institution employees building their anti-money laundering awareness.
Bank Secrecy Act Basics: 03. Components of a Money Laundering Operation
Money laundering schemes can be hard to spot, but nearly all of them share the same three-part structure.
What this course covers:
- The placement stage of a laundering operation
- The layering stage that hides the money trail
- The integration stage that returns funds as clean money
- What to do if you suspect laundering at your institution
Built for financial institution staff who need to recognize criminal activity as it happens.
Bank Secrecy Act Basics: 04. Requirements and Purpose of the Bank Secrecy Act
The Bank Secrecy Act requires every financial institution to build a compliance program that deters money laundering and helps law enforcement investigate financial crime.
What this course covers:
- The purpose behind the Bank Secrecy Act
- The five main components of BSA and AML program requirements
- How the act supports law enforcement investigations
- Who is responsible for leading the compliance effort
Designed for compliance and banking staff who need to understand program obligations.
So What's the Big Deal?
So, what's the big deal? Is anyone really hurt by money laundering? Shouldn't we be focused on preventing the crimes that produced the dirty money rather than the attempts to cover up the crime after the fact? As we'll see in this course, when it comes to money laundering, it's not so simple and clear-cut.
Manipulating the System
In this program we're going to discuss the events that led to a major overhaul of Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulations in 2001. In the other courses in this series, we've looked at how AML laws were developed to stop dirty money from entering the banking system. Some of the most significant changes to a bank's AML program have been a result of the passage of the USA PATRIOT Act, passed in direct response to the 9/11 attacks.
Frequently Asked Questions
This course is designed for employees who need to complete Bank Secrecy Act Basics training
Yes. This course is designed to meet applicable federal requirements and commonly mandated state standards. Always confirm specific state or industry requirements with your local regulations.
The course takes approximately 36 minutes to complete and can be paused and resumed at any time.
Yes. Learners receive a downloadable certificate upon successful completion, which can be used for compliance records and audits.
Yes. You can assign this course to individuals or groups using Coggno’s LMS, or purchase multiple seats for your team.
Yes. This course can be exported for delivery in most learning management systems (SCORM compatible).
Yes. The course is fully self-paced and available 24/7.
Yes. This course includes a knowledge check to reinforce learning and verify completion.
Learners have lifetime access from the date of purchase.
Yes. A preview is available so you can review the course format and content before purchasing.
Yes. Content is reviewed and updated as regulations and best practices change.
Yes. This course is available for free with an active Prime Subscription.
Yes. Refund requests can be submitted within 30 days of purchase.
Passed in 1970, the Bank Secrecy Act launched the U.S. fight against money laundering and grew into the framework known today as BSA/AML.
What this course covers:
Ideal for banking and financial staff who need a clear grounding in anti-money laundering fundamentals.