The National Defense Authorization Act (NDAA) for Fiscal Year 2021, which became law on January 1, 2021, contains provisions that have future implications for our BSA programs on beneficial ownership, CTRs, and SARs.
In this 90 minute session, Debbie Crawford of GetTechnical, Inc will break down the bill and take a section-by-section look at the money laundering piece and what it can mean to your credit union. Many of the Act’s provisions & implications will be discussed, including:
- The federal government establishing a beneficial ownership database
- Revised BSA declaration of purpose
- Strengthening of FinCEN
- Introduction of FinCEN Domestic Liaisons
- Streamlining of SARs and CTRs
- Studying increased exemption levels for CTRs and Thresholds
- Studying how to provide inclusion for charities and nonprofits
- Requiring annual training for examiners
- Plus, two pending regulations will be covered if finalized: The recordkeeping rule for convertible virtual currency and the reduction of limits for funds transfers and monetary instruments.
Your Educational Investment is $149 per person.
The Mississippi Credit Union League is our host for this session and you will be re-directed to their website to complete your registration
This program welcomes participants of member credit unions of the