National Defense Authorization Act And AML Act of 2020: Updates You Need To Know

with
Timothy Dunfey
On-Demand
$129.00
Training Includes:
  • Certificate of Attendance
  • This training is available as an on-demand recording.
Financial compliance attorney Timothy Dunfey will distill and interpret the latest AML Act updates. You will learn how to apply them to your institution.

Topics Covered

  • What are the changes to the Bank Secrecy Act?
  • How have reporting requirements and expectations changed?
  • How can you align institution controls and reporting with customer/member risk?
  • How should you identify and address national security priorities?
Scheduled for 60 minutes including question and answer period.

Training Overview

Learn how to comply with significant AML Act changes. Discover details of the 2020 updates.

The Anti-Money Laundering Act of 2020 contains some of the most significant changes to the U.S. anti-money laundering requirements since the USA Patriot Act of 2001. The new law:

  • Expands the purpose of the Bank Secrecy Act to include national security
  • Details the risk-based approach
  • Expands the role of FINCEN
  • Increases civil and criminal penalties
  • Establishes a process for reporting beneficial ownership information

You need to understand these changes thoroughly and update your institution’s policies and procedures to comply.

  • What are the changes to the Bank Secrecy Act?
  • How have reporting requirements and expectations changed?
  • How can you align institution controls and reporting with customer/member risk?
  • How should you identify and address national security priorities?

Who Should Attend?

  • Compliance officers
  • Chief compliance officers
  • Compliance analysts
  • Risk managers
  • Compliance attorneys
  • Financial institution managers
  • Financial institution officers

Expert Presenter

Timothy Dunfey

  • Financial crimes compliance attorney and consultant with over 20 years of experience in financial services management, sales, operations, and compliance
  • Currently overseeing legal and compliance matters for a credit card company
  • Previously Compliance Officer at Citibank, overseeing EDD for the highest risk customers, and Deputy BSA Officer at Great Florida Bank
  • As a consultant with Promontory Financial Group, represented boards regarding regulatory deficiencies, managed numerous FCC improvement projects, and conducted audits and risk assessments across a wide variety of financial institutions
  • J.D. degree

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