AMLA 3nd Annual BSA Conference

1

• AMLA 3nd Annual BSA Conference
• BSA/AML HOT TOPICS
• October 4, 2013
• Christopher Price
• Senior Compliance Manager, Regulatory Advisory

2
Introduction and Overview

• Introduction
• BSA/AML Hot Topics
• Medical Marijuana
• Mortgage Lending
• Other BSA/AML Common Findings

3
BSA/AML Hot Topics

• Medical Marijuana
• State law vs. federal law
• Federal Regulatory expectations
• Standard and Enhanced CIP
• CDD and EDD
• Filing SARs
  

4
BSA/AML Hot Topics

• Mortgage Fraud
• Appraisal Fraud Red Flags
• Red Flags for Loan Modification
• Schemes
• Reverse Mortgage Fraud
• Developing procedures for service personnel off
  of RESPA servicing amendments
• The Case of Louis Gendason Loan Officer

5
BSA/AML Hot Topics

• Other Common BSA/AML Issues
• Lack of system validation
• Issues with Independent Audit
• Risk Assessment is not adequate
• Program is not Enterprise Wide does not cover
  all areas of the bank

6
Final BSA/AMLComments Questions
Christopher Price Senior Compliance Manager
Regulatory Advisory Services FIS Enterprise
Governance Risk and Compliance 800-547-2462
x75039 Office 407-309-5039 Direct 866-525-6716
Fax Christopher.Price_at_fisglobal.com

• Thank You!